Flavorite Group & Murphy Glasshouse businesses merge

Since the July 2020 consolidation of the Flavorite entities into the Flavorite Group in collaboration with Roc Partners, acquisitions, mergers, growth and diversification were all on the strategic agenda. In the short months since their last announcement, the Flavorite Group have diversified into commercial Blueberry & Cucumber plantings at their Warragul site, and commenced their strategic growth plans with the construction of 45,000m2 glasshouse also on the Warragul site due for completion by August 2021. These developments alone will create employment for a further 120 fulltime employees during peak harvest.

Picture: (from left) Jon, Russell & Jill Murphy from Murphy Fresh.

Flavorite's CEO Mike Nichol said "we promised organic growth, and we have started on that path with our Blueberries and new glasshouse construction at Warragul, and fortunately our long-term relationship and friendship with the Murphy family has presented us with the perfect opportunity to formally merge two great family businesses to strengthen our market position and allow further product and geographic growing diversification. The merger will allow us to further strengthen our offer to customers and deliver great products to market through innovation and quality for consumers".

The new Flavorite Group, incorporating the existing talent and expertise in place at the Mansfield and Tatura sites, will enable the businesses to join forces to create a consolidated powerhouse which is well positioned to maintain long-held family values whilst unlocking the full potential of our talented people, growing and marketing expertise and world class asset base. By streamlining operations and the way we interact internally and externally, this will enable us to respond quickly to the market, our customers and new opportunities.

Flavorite COO Chris Millis said "we have been working together with the Murphy family for 20 years, sharing knowledge and expertise. We have very similar management styles and are excited to merge the two businesses. Operationally, this further strengthens the Flavorite Group by bringing onboard the highly skilled Murphy team".

Jon Murphy said "for the last 20 years we have been working closely with the Flavorite group utilising the most innovative farming technology to deliver great produce to Australian families. This merger allows us to combine our knowledge and expertise to keep expanding on what we do best".

Roc Partners' Managing Partner Michael Lukin said "Roc is delighted to support the merger of these two great Victorian businesses to provide additional scale, production efficiencies and geographic diversification. The Murphy and Flavorite teams already operate closely together, and the family-owned cultural similarities should lead to a relatively simple integration. We welcome the Murphy's to the enlarged business and look forward to many more years of sustainable fresh produce production together."

About Flavorite

Flavorite are one of Australia's largest glasshouse producers of fresh fruit and vegetables. Family owned with three generations of experience growing and supplying premium fresh produce which is full of flavour both nationally and internationally.

About Roc Partners

Roc Partners is a leading alternative investment manager specialising in private equity and agricultural investments in the Asia Pacific region. Roc Partners was established as an independent, alternative investment management firm following the management buy-out of the Macquarie Group's private markets business unit by its senior executives in June 2014. The Roc Partners business is headquartered in Sydney and has been in continuous operation since 1996. The team comprises over 40 staff located across Sydney, Melbourne, Hong Kong and Shanghai, and has current funds under management of more than A$7.0 billion.

Header Photo: (left) Chris Millis - Chief Operating Officer and Mike Nichol - Chief Executive Officer from the Flavorite Group.

Source: Goedemorgen