DeHaat, a leading agritech company, has announced the acquisition of key assets from Freshtrop Fruits‘ export business. The deal, finalized on November 14 in an all-cash transaction, includes the absorption of export networks, grading facilities, packing centers, precooling infrastructure, and the top leadership team of Freshtrop.
DeHaat, known for its innovative approaches to agricultural solutions, sees this strategic move as a crucial step towards enhancing its global presence in the grape export market. The acquisition aims to leverage Freshtrop’s expertise and infrastructure to not only bolster DeHaat’s grape exports from India to the world but also to spearhead research and development initiatives for cultivating new and diverse grape varieties.
Shashank Kumar, Co-founder and CEO of DeHaat, expressed his excitement about the collaboration, stating, “We are super excited about this collaboration to grow the grapes and overall agri-export business together.” He emphasized that each member of Freshtrop’s founding family, along with the broader team, will continue to actively contribute to the business. DeHaat, in turn, plans to bring its extensive network and resources to facilitate market expansion and provide technological support to farmers associated with the venture.
Freshtrop Fruits Ltd, founded in 1992 by Ashok Motiani and his family, has been a prominent exporter of grapes, pomegranates, and mangoes from India to supermarket chains in the UK, European Union, and other countries. The publicly listed company, headquartered in Ahmedabad, has played a pivotal role in maintaining the high standards of fruit exports from India.
DeHaat, founded in 2012 by Shashank Kumar, initially focused on a dual business model, supplying inputs to farmers and subsequently purchasing and selling their produce to bulk buyers. Recent expansions have seen the company diversifying into exporting agricultural products.
Highlighting DeHaat’s impressive growth in the export sector over the last 18 months, Kumar noted, “We established our export business 18 months ago and are today exporting more than 20 agri-produce from India to the Middle East, the UK, and the EU. We see strong synergies around the complementary core competencies between DeHaat and Freshtrop.”
The partnership between DeHaat and Freshtrop is slated to become operational during the upcoming grape harvesting season. This acquisition marks DeHaat’s seventh overall and its fourth in the output domain, following the twin acquisitions of YCook India Pvt Ltd and FieldFresh Foods last year, according to the company’s official statement.
