SINGAPORE - Sunmoon Food Co has signed a framework agreement with Rio Vista Ventures, trading under the business name of Giumarra, to form two joint venture companies to source for, acquire, sell and distribute fresh fruits and vegetables.
One of the joint venture will have Giumarra as its majority shareholder and its job is to source and acquire the produce.
The other joint venture, which will be majority owned by Sunmoon, is tasked with distributing and selling the produce in Asia Pacific, including the Middle East.
Giumarra is one of the world's largest agricultural organisations and is recognised for setting standards of excellence in the world of agribusiness.
Sunmoon hopes to leverage on Giumarra's extensive network in sourcing for fruits, while Giumarra will be able to tap on its distribution network in Asia Pacific.