Australia’s leading grower and marketer of fresh produce the Costa Group has announced its intention to acquire Adelaide Mushrooms. Costa Group reached agreement with the owners of Adelaide Mushrooms the Schirripa Family, to purchase the company’s assets which include the state of the art Monarto production complex in South Australia, farms at Spreyton and Huon Valley in Tasmania, and the Mushroom Centre at the Adelaide Markets. ‘Adelaide Mushrooms operations will compliment the key Costa facilities in Victoria, Western Australia and Queensland` enabling Costa to supply locally sourced mushrooms in South Australia and Tasmania. Consumer tastes have become more sophisticated with increasing expectations of freshness, competitive pricing and consistent supply. ‘The combined business will be well placed to provide a rewarding consumer experience’, said Costa Group CEO Mr Harry Delaney. Mushrooms have an acknowledged health benefit and with the integration of Adelaide Mushrooms technology and skill base, this will further enhance Costa’s consumer offer and the supply of quality mushrooms. ‘Importantly Adelaide Mushrooms chairman Douglas Schirripa will join our mushroom team in an advisory capacity and play a direct role in the further growth of our business as we strive to achieve world class efficiencies and consumer offerings:, said Mr Delaney. `I am particularly pleased to have led Adelaide Mushrooms through its recent period of growth with the successful commissioning of Australia’s most modern mushroom growing facility at Monarto. I have every confidence that the combined entity can take the industry forward with a strong focus on quality and efficiency. To this end Costa and Adelaide Mushrooms have a shared vision for the industry’, said Mr Schirripa. The transaction is subject to documentation, financing and regulatory approvals and is expected to be completed early in the new year. The value of the transaction has not been disclosed.
