Mahindra ShubhLabh Services enters into Joint Venture with Belgium
To offer high quality fruits to Indian & Overseas consumers, enhance farmer prosperity by increasing productivity and better price realization and establish high quality supply chain for fresh produce.
Mahindra ShubhLabh Services Ltd. yesterday has signed a joint venture agreement with UNIVEG, a Belgium based Euro 3.2 billion Fresh Produce Company. To offer high quality fruits to Indian & Overseas consumers, enhance farmer prosperity by increasing productivity and better price realization and establish high quality supply chain for fresh produce.
The joint venture, between Mahindra and the UNIVEG Group will have Mahindra ShubhLabh Services Ltd (MSSL) and UNIVEG holding 60 and 40 percent equity respectively in the company.
Dr. Pawan Goenka, Executive Director and President, Automotive & Farm Equipment Sectors, Mahindra & Mahindra said, “In line with our vision of delivering Farm Tech Prosperity, Mahindra ShubhLabh was set up to help farmers increase their productivity and enable them to obtain greater value for their produce. It is a matter of pride for us that we have today signed this JV with a global leader in fresh produce.”
Mr. Hein Deprez, Executive Chairman & Major Shareholder, UNIVEG Group mentioned, “We consider this association the right mix of market presence and farmer connect. 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 other dignitaries who were present for the signing ceremony were Mr. Francis Kint – Global CEO, UNIVEG Group, Mr. Ashok Sharma, Chief Executive, Agri & Allied Business, Mahindra & Mahindra Ltd, and Mr. Vikram Puri, CEO, Mahindra ShubhLabh Services Ltd.
[News Source: Mahindra]