Jain Farm Fresh, India Announces Investment In Innovafood N.V. Belgium
Jain Farm Fresh Foods Limited, India (“JFFFL”) a subsidiary of Jain Irrigation Systems Limited India, through its multi-generation Wholly Owned Subsidiary in Belgium has acquired 100% stake in INNOVAFOOD N.V. Belgium and its affiliated companies.
Founded in the year 2000, Innovafood is a leading importer, stockist and distributor of food ingredients and has become one of the leading player in the dehydrated vegetables, spices and other food ingredients in Belgium, The Netherlands, France and other neighbouring countries. Innovafood has developed an unparalleled, high quality and long-term supply chain and supplier relationships in India, China, USA, EU, Morocco, Indonesia and Uzbekistan. The company also enjoys a very strong and long-term customer loyalty in the markets it operates in. It offers a large basket of key food ingredients of dehydrated vegetables, herbs, spices and spice extracts, freeze-dried products, natural food colours, bioproducts, etc. Large customer base includes food processing industry, food blenders and re-packers, etc.
1. Vertical integration for Jain Farm Fresh Foods Limited in key growth markets within EU (The Netherlands, Belgium, France, Germany, etc).
2. Presence in key EU distribution hub in Antwerp, Belgium.
3. Push sale and distribution of spices from Jain’s recently launched spice business in India.
4. Market access for other ingredients not currently supplied by Jain Farm Fresh Foods to Innovafood from its USA and UK based manufacturing facilities.
5. Cost optimization opportunities by aligning supply base and distribution network between Jain’s UK based food business and its newly acquired Innovafood N.V.
6. Profitable operations managed by 8 full-time employees.
7. Existing management of Innovafood to continue and drive future growth.
Innovafood has been an exclusive distributor of Jain Farm Fresh Foods for last 15 years in BENELUX (Belgium, The Netherlands and Luxemburg) and France markets for some of the key food ingredients supplied by Jain Farm Fresh Foods, India. This acquisition aligns with another similar strategic investment in the UK by JFFFL into a similar business covering British Isles 7 years with very impressive performance till date.
This acquisition will help Jain Farm Fresh Foods to get one step closer to the market, have a direct presence in large food ingredients market, bring cost efficiencies by optimizing supply chain and provide market access and further value addition opportunities in food ingredients market directly. No government of regulatory approvals are required to complete this transaction.