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Mahindra, Univeg sign fruit supply JV deal

FBR Staff Writer Published 16 April 2014

Mahindra ShubhLabh Services, a subsidiary of Mahindra & Mahindra, has entered into a fruit supply chain joint venture (JV) agreement with Belgium-based fresh produce firm Univeg.

Mahindra will have 60% holding in the JV, while Univeg will own the remaining share.

The JV will be engaged in supplying fresh fruits for both the domestic and international markets, and it will focus on select key fruits other than grapes.

It seeks to modernize the domestic fruit supply chain to improve yield and lower wastage levels, and improve ripening, packaging and storage processes to offer better fresh produce to consumers.

Mahindra & Mahindra Automotive & Farm Equipment Sectors executive director and president Pawan Goenka said, "This JV will enable both companies to leverage each other's strengths thereby providing a win-win for farmers and end consumers alike.

"Going forward, we plan to strengthen our partnership by further improving the fresh produce supply chain through various interventions and investments across India."

UNIVEG Group executive chairman and major shareholder Hein Deprez said, "Mahindra's reach, together with our proven technical expertise across 6 continents and 32 distribution centers in Europe will be beneficial for all stakeholders."

The JV will import fruits from across the world and position Indian fruits in the global markets by establishing export oriented supply chains, for certain fruits.