EQT invests in SNFL and IFG in second deal via Future fund

EQT will take a significant minority stake in the combined group, with previous SNFL shareholder AM FRESH group being the controlling investor.

Another of SNFL's shareholders, Paine Schwartz Partners, a private equity firm specialising in sustainable food chain, will also reinvest.

The deal follows EQT Future fund's investment in Anticimex, a global pest control specialist, last year.

The EQT Future fund launched in October 2021, with a EUR 4bn target. It's a longer-hold fund that focuses on mature impact-driven investments. EQT would not comment on the status of the fundraising.

SNFL and IFG develop and breed table grape and cherry varieties through natural hybridisation and non-GMO processes.

EQT said that the enhanced genetics improve the fruits' agricultural yield, nutritional value, taste, crunchiness and shelf life.

The new sponsor will help support the development of disease-resistant varieties, which reduces the need for fungicide in the growing process. 

The transaction is expected to close in Q4 2022. 

The companies

SNFL is a breeder and licensor of table grape vines with 67 patented varieties and licensed hectares to growers across 17 countries. It operates R&D centres in Spain and the US.

IFG, headquartered in California, is a breeder and licensor of table grape vines and cherry trees varieties with 47 patented varieties.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Expansion
• Spain
• EQT