North American fruit grower and retailer Driscoll's and its consortium partners have acquired a significant stake in Australian fresh produce company Costa Group.  

The consortium, led by Paine Schwartz Partners, also includes British Columbia Investment Management.  

Driscoll's and Costa will focus on specific projects to enhance the global berry business, while their existing partnerships in China, Australia and the Americas will proceed as planned. 

With roots dating back to the late 1800s, Costa Group has evolved into a global horticultural leader and is known for its agronomic expertise and innovation.  

The company has a diverse and high-quality fresh produce portfolio which includes blueberries, glasshouse tomatoes, citrus, avocados, mushrooms and table grapes. 

Spanning Australia, China, Morocco and southern Africa, Costa's production and grower network supplies products to numerous countries, including those in Europe, the UK, Asia and North America.  

The partnership between Driscoll's and Costa began in 2010, with the two companies sharing ownership of a joint venture in Australia.  

Driscoll's has expanded in the Americas using Costa's blueberry varieties and the two companies established a berry production company in China in 2016. 

Driscoll's CEO Soren Bjorn said: “We welcome the Costa Group into the Driscoll’s family and look forward to deepening our relationship with even more deliberate collaboration across the globe. 

“This is one of the largest equity investments Driscoll’s has ever made, which speaks to the formidable partnership and considerable value we see in the Costa portfolio and the company’s long-term future and growth prospects.”