Key Takeaways
- Paine Schwartz Partners' Fund VI has completed a structured minority investment in AMFRESH Group and its subsidiary BLOOM FRESH International, the terms of which were not disclosed.
- BLOOM FRESH develops and licenses more than 100 proprietary varieties of table grapes, cherries, blueberries, and raisins to over 3,000 growers across 26 countries.
- The investment builds on an eight-year relationship between Paine Schwartz and AMFRESH, dating back to Fund V's initial investment in Special New Fruit Licensing in 2019.
- BLOOM FRESH was formed in 2023 through the combination of Special New Fruit Licensing (SNFL) and International Fruit Genetics (IFG), following Fund V's partial sale of its SNFL stake to EQT.
- AMFRESH Group operates in more than 60 countries and employs over 12,000 people, spanning genetics, farming, and global commercialization across the fresh food value chain.
Paine Schwartz Partners Completes Minority Investment in AMFRESH and BLOOM FRESH
Paine Schwartz Partners, a private equity firm focused on sustainable food chain investing, announced that its Paine Schwartz Food Chain Fund VI has completed a structured minority investment in AMFRESH Group, a family-owned, vertically integrated global fresh produce company, and its subsidiary BLOOM FRESH International, a multi-fruit breeding and intellectual property licensing platform. The investment expands Paine Schwartz's longstanding partnership with AMFRESH, BLOOM's controlling shareholder, and builds on the firm's more than 20-year track record in agricultural genetics. Terms of the transaction were not disclosed.
Details of the Transaction
The investment was offered exclusively to Paine Schwartz on a proprietary, bilateral basis, reflecting the strength of its eight-year relationship with AMFRESH. Paine Schwartz Food Chain Fund V first invested in Special New Fruit Licensing (SNFL) in 2019, supporting the company's licensing strategy and geographic expansion. In 2023, Fund V sold a portion of its stake to EQT as part of the combination of SNFL and International Fruit Genetics (IFG) that created BLOOM FRESH. The Fund VI investment, along with additional co-investment being offered to investors, supports the continued growth of AMFRESH's vertically integrated platform spanning genetics, farming, and retail services.
BLOOM FRESH's Fruit Breeding Platform
Formed in 2023 through the combination of SNFL and IFG, BLOOM FRESH combines complementary gene pools to accelerate innovation in flavor, disease resistance, climate resilience, and water efficiency. The company develops and licenses more than 100 proprietary varieties of table grapes, cherries, blueberries, and raisins to over 3,000 growers across 26 countries. BLOOM FRESH's asset-light royalty model generates recurring revenue, strong margins, and free cash flow conversion over multiple decades.
“Having successfully invested in agricultural genetics for over 20 years, Paine Schwartz has long been anchored by the foundational thesis that genetics are the most critical agricultural inputs, with significant value capture potential,” said Kevin Schwartz, Chief Executive Officer of Paine Schwartz. “We believe BLOOM is one of the highest-quality platforms in global agriculture and we are proud to continue deepening our relationship with BLOOM and AMFRESH.”
Paine Schwartz Partners' History with AMFRESH
Paine Schwartz Partners manages about $6.5 billion in assets and has more than 20 years of experience investing across the food and agribusiness value chain, focusing on productivity and sustainability as well as health and wellness. The firm primarily makes control buyout investments, with a smaller allocation to growth companies.
“Paine Schwartz has been a trusted partner to our business for years, bringing deep expertise in specialty crops and genetics, as well as a genuine alignment with our long-term vision,” said Alvaro Muñoz, Chief Executive Officer of AMFRESH. “Expanding our partnership through this investment reinforces our shared commitment to building the world's leading fruit-breeding and innovation platform.”
