Agritech platform DeHaat announced its acquisition of Freshtrop’s fruit export business, including its network, packing, grading centers, and personnel, for a sum of around $9 million.
This move aims to fortify the fruit value chain in India by enhancing farmer involvement, technology transfer, and infrastructure, as per the company’s official statement.
The deal, disclosed in a regulatory filing by Freshtrop Fruits—a 1992-established firm listed on the Bombay Stock Exchange with a business worth Rs 250 crore—illustrates the Sofina and Temasek-backed startup’s ambition to focus on agricultural links.
Freshtrop Fruits, led by Ashok Motiani and his family, has been a major exporter of Indian fruits such as grapes, pomegranates, and mangoes to various countries, particularly the UK and the European Union, for over 25 years.
DeHaat, known for its agricultural marketplace offering the distribution of quality farming essentials, advisory services, loans, and connections for selling produce, sees this acquisition as a means to amplify its reach and offerings.
As of March 31, 2023, DeHaat’s presence spans 11 states, encompassing over 10,000 franchise centers servicing 1.5 million farmers in approximately 100,000 villages.
The collaboration seeks to combine Freshtrop Fruits’ experience in export operations with DeHaat’s robust network and resources dedicated to empowering farmers across India.