DeHaat Completes Acquisition of Freshtrop Fruits’ Fruit Export Business
- ByStartupStory | November 14, 2023
DeHaat has successfully acquired the fruit export business of Freshtrop Fruits, a move formalized through a business transfer agreement (BTA) between the two entities. The acquisition encompasses Freshtrop Fruits’ export network, as well as its grading, packing, precooling centers, and workforce.
This strategic collaboration aims to fortify the fruit value chain in India, fostering deeper engagement with farmers, facilitating enhanced technology transfer, and improving overall infrastructure, as highlighted in an official press release.
Freshtrop Fruits, led by Ashok Motiani and family, has been a prominent exporter of grapes, pomegranates, and mangoes from India to supermarket chains in the UK, European Union, and various other countries for over 25 years. With two pack house facilities in Maharashtra, the partnership with DeHaat is set to commence operations during the upcoming grape harvesting season.
DeHaat, a comprehensive agritech marketplace, serves the agricultural sector by providing services such as the distribution of high-quality agricultural inputs, advisory support, lending facilities, and market linkages for selling produce. The company has expanded its presence across 11 states, boasting over 10,000 franchise centers that cater to 1.5 million farmers in more than 100,000 villages as of March 31, 2023.
According to DeHaat’s annual financial statements filed with the Registrar of Companies (RoC), the company reported a notable 54.2% growth in gross revenue, reaching Rs 1,965 crore in FY23, with revenue from the sale of agricultural products constituting 98.5% of the total income.
This acquisition adds to DeHaat’s portfolio of strategic moves, building upon previous successful acquisitions such as FarmGuide, Vezamart, Helicrofter, and YCook.
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