Driscoll’s, part of a North American-based consortium led by Paine Schwartz Partners and including British Columbia Investment Management Corporation, has completed the purchase of Costa Group, Australia’s leading grower, packer, and marketer of fresh fruits and vegetables.
Costa has a portfolio of fresh produce; it specializes in the growing, marketing, and supply of blueberries, glasshouse tomatoes, citrus, avocados, mushrooms, and table grapes. Its production and grower network spans every state of Australia, China, Morocco, and southern Africa. Costa products are also sold throughout regions including Europe, the U.K., Asia, and North America.
Costa is also recognized as an industry leader in the development of genetics and new plant varieties, especially blueberries, noted Driscoll’s. In 2023, it launched four new blueberry varieties.
This ownership arrangement is part of a progression of the relationship between Driscoll’s and Costa, which began in 2010, said Driscoll’s. The two companies own a joint venture in Australia that markets blueberries, raspberries, strawberries, and blackberries. Driscoll’s also has an expansion program in the Americas using Costa blueberry varieties.
“We welcome the Costa Group into the Driscoll’s family and look forward to deepening our relationship with even more deliberate collaboration across the globe,” said Soren Bjorn, CEO of Driscoll’s, in a statement. “This is one of the largest equity investments Driscoll’s has ever made, which speaks to the formidable partnership and considerable value we see in the Costa portfolio and the company’s long-term future and growth prospects.”
After the transaction, Driscoll’s and Costa will work on specific projects to grow the global berry business. Their arrangements in China, Australia, and the Americas will be unaffected, said Driscoll’s.