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Maharashtra based Jain Farm Fresh Foods Ltd (JFFFL) has acquired a 100 per cent controlling stake in Innovafood N V Belgium with its affiliated companies. Due to this acquisition, JFFFL’s range of products would reach European markets along with Asian countries.
Founded in 2000, Innovafood is a leading importer, stockiest and distributor of food ingredients and has become one of the leading players in the dehydrated vegetable, spice and other food ingredient sectors in Belgium, The Netherlands, France and other neighbouring countries.
A subsidiary of Jain Irrigation Systems Ltd (JISL), JFFFL’s product portfolio is very wide and includes aseptic, dehydrated, individual quick frozen (IQF), frozen and humidity-lessened vegetables and different spices produced in different geographies.
This acquisition will help JFFFL to get a step closer to the market, have a direct presence in the large food ingredient market, bring cost efficiencies by optimising the supply chain and provide market access and further value addition opportunities in the food ingredient market directly.