Label Investments has acquired Tropical Organic Growers, a leading Mexican marketer of organic bananas, reaffirming the firm’s commitment to organics.
Alexandre Pierron Darbonne, founder and CEO of Label Investments, said:
“Organic bananas have a penetration of less than 10%, well below that of other categories of fruits and vegetables, something inexplicable when you take into account that conventional bananas are one of the fruits most treated with pesticides and its unsustainable production. Consumption of organic bananas is growing at a rate of over 10% a year and we believe that they have the potential to largely replace conventional bananas in certain markets in the coming years.”
Rolando Leyton, founder and CEO of Tropical Organic Growers, said:
“We have found in Label Investments the ideal partner to accompany the strong development of Tropical Organic Growers. They have a unique experience in the agricultural sector and the industry in Mexico and they will support us in achieving our vision: to be the leader in Mexico in the production and commercialisation of organic tropical fruit.”
Colima-based Tropical Organic Growers exports about 50,000 tons of organic bananas annually, mainly to the US and Japan, with production expected to double in the next five years.