Potato supplier Greenvale has boosted its position in UK-grown “early” potatoes with the acquisition of Rowe Farming, a Cornwall-based grower of new and salad potatoes, as well as daffodils.
The deal was done through Greenvale’s parent company, Produce Investments, which bought all of Rowe’s share capital in a part cash, part equity deal. The value of the sale was not disclosed.
PI said the Rowe deal meant Greenvale would be less dependent on imported potatoes during the late spring and early summer.
“It also sees us diversifying into a new and complementary sector [daffodils], a sector which has shown healthy growth during recent seasons,” Greenvale chief executive Angus Armstrong (pictured) added.
Rowe boss Mark Rowe said he believed his company would now reach its “full potential” having become part of “a large-scale and progressive company”.
Following the acquisition, Mark Rowe and fellow directors Edward Rowe and Robert Stacey will join the PI group, with Mark Rowe also joining the Greenvale board.