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Berry Global Group, inc (BERY) Q3 2021 Earnings Call Transcript

Berry Global Group, inc (BERY) Q3 2021 Earnings Call Transcript
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Somerset strawberry grower buys land to boost £6 5 MILLION business

BUSNIESS BOOST: At Global Berry A SOMERSET strawberry grower has purchased two plots of land totalling 34.5 acres after securing £5.5 million in funding. Global Berry, which produces strawberries for major supermarkets including Sainsbury’s, Aldi, Morrisons and M&S, has acquired land it has been renting for the past five years. The £6.5 million turnover business, based near Yeovil, decided to make an offer to its landlord for the two plots, which already house the glasshouses it uses for growing its strawberries, so that it could invest in the long-term future of the firm. Buying the land outright has enabled Global Berry to make major savings across the business, with its monthly loan repayments now 45 per cent less than it previously paid in rent.

Somerset strawberry grower buys land to boost £6 5 MILLION business

Somerset strawberry grower buys land to boost £6 5 MILLION business
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Somerset strawberry grower buys land to boost £6 5 MILLION business

Somerset strawberry grower buys land to boost £6 5 MILLION business
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You now can grow small fruits all over the world

You now can grow small fruits all over the world This year many events took place in a digital setting, including the Global Berry Congress. The Italian Molari Berries & Breeding also attended the special event. It is interesting to see how, despite the pandemic, the sector was able to keep up with a remarkable trend. Consumers lifestyles have changed drastically in only a few months, yet we are thrilled to see that our segment has barely experienced any problems, said Matteo Molari. Matteo and Luca Molari According to Matteo, there are two main trends. Genetic improvement is mainly aimed at overseas countries or emerging countries where until a few years ago it was almost impossible to grow raspberries, as an example. With the help of innovative technologies, it is now possible to achieve excellent results with this crop, which means that raspberries are available on the shelves 12 months a year. The second trend involves sustainability. We finally begin to realize that envir

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