Westfalia Fruit International Ltd has announced an investment by Boston-based Harvard Management Company Inc., which enables the multinational to expand its prominence in global avocado supply.
The recent acquisition by Harvard Management Company (HMC) of a minority stake in Westfalia Fruit International (WFI) gives the fruit specialist capital for funding key initiatives while enabling collaboration with HMC’s accomplished team of natural resource investors.
“Westfalia is a global leader in the avocado market with a commitment to environmentally sustainable management. Its vertically integrated operations are uniquely positioned to benefit from the growth in global avocado consumption and make it a great fit for our portfolio. We are excited to have the opportunity to join them in this latest stage of their growth,” says Colin Butterfield, HMC’s Managing Director of Natural Resources.
WFI’s future capital investments in global production and distribution are aimed at meeting the growing market demand for avocados and expanding the current availability of fruit.
Says newly-appointed CEO of Westfalia Fruit, Alk Brand, of the investment: “The decision to partner with HMC was an easy one, given our similar values and commitment to sustainable business principles. This transaction positions us well for pursuing strategic objectives within the global Group and significantly contributes towards our vision of being a leader in the global avocado industry.”