Global fruit genetics, R&D and licensing company Sun World has announced an agreement to be acquired by Bridgepoint, an international private equity group. Bridgepoint will become a controlling shareholder alongside management and succeeds a transformative and successful period of ownership from Renewable Resources Group LLC and Vision Ridge Partners, Sun World said.
The Bridgepoint investment will support Sun World’s plans to accelerate its growth strategy by building a broad-based genetics and technology platform for specialty fruit growers. CEO David Marguleas, who will serve on the company’s new board and hold an equity position in the company, said: “Our connection with the Bridgepoint team was undeniable from the first conversation”.
“They understand and appreciate the extraordinary head start we enjoy in the sector after 30 years of breeding superior produce. And they share our vision of the many ways we can grow. To say we’re ‘excited’ undersells what this new partnership means for Sun World.”
Read more/Source: FreshFruitPortal.com
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