August 2, 2023

By Lynda Kiernan-Stone, Global AgInvesting Media

Taylor Farms, a California-based, leading North American producer of salads and fresh foods, has made an undisclosed investment in Spain’s Foodiverse, gaining it a “significant share” in Foodiverse’s capital and marking its first foray into Europe.  
Headquartered in Salinas, family-owned Taylor Farms acquired Earthbound Farm, the largest organic salad business in the U.S., from Danone in mid-2019. At the time, the financial details of the deal were not released, however, evaluations put forward in 2018 estimated that the sale had the potential to generate as much as $500 million. 

Today, Taylor Farms has production facilities across the U.S., Canada, and Mexico, and has just extended its reach into Europe through its acquisition of Foodiverse – a multinational company active throughout the entire value chain, from seed to consumer, with operations in Spain, Germany, Switzerland, and Italy.

The company includes 17 farms across Spain and Italy totaling more than 2,800 hectares, nine production plants across Europe, and a distributor and marketer in Spain. Its product line includes straight-from-the-field vegetables, fresh-cut produce, salads, ready-to-eat fresh fruit, ready-to-cook or heat vegetables and dishes, and vegetable drinks and snacks that are distributed to more than 400 clients in 22 countries, generating sales in 2021 of EUR 327 million. 

Foodiverse stated that aligned with its mission to lead the healthy revolution, it has acquired leading companies in their respective markets in recent years including  Agromediterránea (2014) and Comfresh (2021) in Spain; Thurländer Salate (2018) in Germany; Josef Müller Gemüse (2019) in Switzerland; and Novanatura (2019) and Ortoverde (2021) in Italy, joining Foodiverse’s own brands Freshkia and Freshkia BIO, Sun&Vegs, and BIO Sun&Vegs.

Taylor Farms explained that this new partnership with Foodiverse will enable a collaboration and the capitalization of synergies, along with an exchange of best practices centered upon both companies’ commitment to sustainability, quality, innovation, and food safety, as well as the development of new products to meet consumer demands. 

“We are enthused to have Taylor Farms as a strategic partner and proud that they have chosen our company for this purpose,” stated Jesús Gómez, CEO, Foodiverse. “This operation will strengthen our position for sustainable growth, keeping our focus on shared values such as the highest quality and freshness of our products, innovation, and sustainability.”

“We are excited to collaborate with Foodiverse and convinced we found the right partner,” said Bruce Taylor, founder and CEO, Taylor Farms. “Our collective mission continues to be increasing consumption of healthy fresh foods across the globe.”

This transaction is currently awaiting ratification by the Spanish National Markets and Competition Commission, and is subject to all necessary bank regulatory approvals and other customary closing conditions, but is expected to close within the upcoming weeks. 

~ Lynda Kiernan-Stone is editor in chief with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and  Agtech Intel News, as well as HighQuest Group’s Unconventional Ag. She can be reached at lkiernan-stone@globalaginvesting.com.

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