SOUTH AFRICA- Multinational fruit genetics and licensing company Sun World International LLC has announced the acquisition of South Africa-based Biogold Group, a fruit variety rights manager, in a move meant to drive collective growth and enhance their innovation capabilities.
Biogold Group is considered the premier global supplier of citrus genetics. The company also manages the significant rights to subtropical varieties like mangoes and avocados developed by third-party breeders.
The fruit variety rights manager has the world’s largest collection of both mango and avocado varieties. The acquisition is partly intended to broaden Sun World’s portfolio in a strategic alignment between the two global leaders.
The acquisition reflects Sun World’s aggressive growth strategy, which seeks to add to its 2,700 genetic licensees. The company ultimately seeks to have a complete fruit range of the most desired genetics in the market.
Biogold’s rich citrus range is expected to add exponential value to Sun World’s global leadership in fruits, adding citrus to its global leadership in fruit varieties apart from stone fruit and table grapes.
David Marguleas, Sun World’s CEO said, “Sun World is known for commercializing carefully, and being intentional when releasing our genetics, in service of maximizing benefits to our producer licenses.”
“Similarly, we make very few acquisitions, and when we do, we do so with discipline. There couldn’t be a stronger business case than this alliance. It’s a powerful accelerant for both companies and a pretty seamless integration for two already-strong organizations and leadership teams.”
Biogold also owns exclusive management rights to a large portfolio of yet to be commercialized fruit varieties, enhancing the growth potential for the resulting company and creating a promising path for multiple revenue streams.
Viresh Ramburan, Biogold’s Vice President, Global Licensing, Citrus and Subtropicals, said, “This acquisition instantly catapults our combined company onto a new growth path. We’ve developed unique expertise in helping fruit breeders monetize their valuable genetic assets, effectively serving breeders across sectors that include government, academia, and private entities.”
According to the terms of the acquisition, there will be staff reduction at Biogold, although Ramburan will continue to run the company’s operations. The monetary value of the acquisition has not been made public.
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