DeHaat acquires export business of Freshtrop Fruits for ₹77 crore
While the fruit export business is sold to DeHaat, it retains the processing business. To talk about this deal and the synergies that arise from it is CNBC-TV18’s Ritu Singh spoke to Shashank Kumar, the founder and CEO of DeHaat.
Agritech startup DeHaat has acquired the export business of BSE-listed Freshtrop Fruits for ₹77 crore. The deal includes Freshtrop’s export network and grading, packing and precooling centers as well as manpower including the top leadership team coming into DeHaat.
Freshtrop was founded in 1992, and is one of the largest exporters of grapes and other fruits. While the fruit export business is sold to DeHaat, it retains the processing business. To talk about this deal and the synergies that arise from it is CNBC-TV18’s Ritu Singh spoke to Shashank Kumar, the founder and CEO of DeHaat.
Kumar said, “We feel that probably this is the best time to build an export business from India and especially within agri I think we all have seen how the overall export from India in agri got doubled in just the last three years. But yes, as far as Freshtrop is concerned, I think a couple of values basically, what we saw one, in general, the grapes, which is a new crop and category for DeHaat, so which is going to be a plug and play. Two the kind of brand Freshtrop has created in the category of premium fruits, we feel that probably at DeHaat, I think we will be able to leverage this relationship beyond grapes as well with all those buyers and that's where we see a lot of scaling up potential.”
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(Edited by : Sangam Singh)
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