The operation, which has been developed over the last year, coincides with the announcement of the IPO of Above Food Corp, an international leader in regenerative agriculture, production of differentiated ingredients and plant-based alternative products, on the New York Stock Exchange. The agreement consolidates, in this sense, the commitment of both companies to innovation and sustainability in the food industry. Likewise, the alliance will allow the Navarrese company to take advantage of Above Food’s distribution capabilities, complete verticalisation, experience and penetration to introduce its innovative products in new markets.
“Foodys’ pioneering efforts in harnessing disruptive technologies to improve the production of differentiated foods aligns perfectly with our quest to create a more sustainable and efficient food ecosystem globally,” said Lionel Kambeitz, CEO of Above Food.
For Foodys, the move “represents a crucial step towards further solid growth and strengthening our position in the global market by becoming a vertically integrated company. This integration allows us to control the value chain <<from field to table>> in such a competitive market as the one we find ourselves in. In addition, this transaction generates synergies in the field of R&D&I that will benefit both companies and their customers”, said CEO Gonzalo Agorreta.
Meanwhile, in Grupo Enhol, they valued the integration as “an unparalleled opportunity to consolidate our growth and expansion at international level, reinforcing our continuity in the foodtech sector and our sectorial and geographical strategy as defined in our last Group strategic plan”, confirmed their CEOs, Diego and Gonzalo Oliver.
Source:adefan.es