December 10, 2024

By Gerelyn Terzo, Global AgInvesting Media

M&A is afoot in the ag industry. Agrovision, a technology-powered superfruit grower, has purchased Chilean grower and exporter ZurGroup, marking its maiden strategic acquisition and paving the way for further growth. The deal marks Agrovision’s expansion into premium cherry production amid the launch of Agrovision Chile, bolstering the company’s superfruit product offerings and supporting its mission to offer consumers nutritious snacking options through technology.

Located in one of top cherry-growing regions on the planet, Chile offers attractive growing conditions for Agrovision to launch its proprietary premium cherry varieties, including features like flavor, freshness and crunch. With plans for 500 hectares (1,235 acres) of cherry orchards. Agrovision also gains access to premium packing facilities as well as established operations in premium blueberries.

Founded in 2012, Agrovision harnesses the latest technology including robotics and automation, AI-powered farming tools and precision farming solutions to grow superfruits in close to a dozen microclimates globally for year-round supply. The company started with blueberries as its proof-of-concept through the Fruitest brand. Agrovision has generated hundreds of millions in sales and clinched 20 percent of premium blueberry market share. The company boasts a reported valuation of over $1 billion, catapulting it into unicorn status.

Agrovision Co-Founder and CEO Steve Magami stated, “We’re deepening Agrovision’s roots in Chile and bringing premium cherries to consumers worldwide. Chile’s position as one of the world’s leading premium cherry producers, combined with our commitment to deliver quality through proprietary and advanced technology, allows us to meet the demand for exceptional superfruits that our consumers love and trust.”

ZurGroup, a family-owned business known for quality in the ag industry, brings a great deal to the table for Agrovision, not least of which is access to its processing facilities and fresh land for growing cherries. Agrovision also inherits hundreds of hectares of blueberries planted with premium varieties, supporting the company’s distribution channel to global retailers across Asia, Europe and North America.

While the deal marks Agrovision’s first strategic acquisition, the company has established key partnerships of late, including a recent tie-up between its Shanghai-based arm and Chile’s Greenvic to meet growing demand for cherries and other superfruits in the Chinese market. As part of its global expansion push, Agrovision is also establishing a foothold in China’s Yunnan Province.

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