WATSONVILLE, CA & RAVENHALL, VIC, AUS - Driscoll’s and Costa Group have signed a shareholder agreement to formalize a new joint venture that will see the two companies starting a berry production company out of China. 

As per the agreement, Costa will own 70 percent of the new company, while Driscoll’s takes up the remaining 30 percent. With blueberry and raspberry farms already up and running in Yunnan province, both companies see this as a way to enter the market for “the rapidly expanding Asian appetite for high quality berries,” according to a press release.

“This builds on the successful equally owned JV in Australia, which over the last six years has grown to be the number one marketer of blueberries, raspberries, strawberries, and blackberries in the country,” Costa Managing Director and CEO Harry Debney said in a statement, mentioning that Driscoll’s has an expansion program in the Americas utilizing Costa blueberry varieties, and the parties have also agreed to work together to investigate growth opportunities on a global basis as well. 

Driscoll’s CEO Kevin Murphy is also welcoming the new Chinese venture with Costa, mentioning the country as one of his major areas in which he plans to expand the company. 

“We have been delighted by progress of the Costa - Driscoll relationship over the past six years,” a statement by Murphy explained. “Costa has established the premier berry production business in Australia and also has a proven track record with blueberries in Morocco. We believe that combining our resources where it makes sense on a global basis will make for a formidable partnership.”

For more on Driscoll’s and Costa Group’s developing partnerships, check back in with AndNowUKnow.

Driscoll's Costa Group