About Us

A Fresh Idea

Asia’s rapid-growth has led to sustained food shortages with really no end in sight. Fresh Grow’s proprietary farming  techniques achieve the highest quality and highest agricultural yield.

  • Increase in Global Middle Class by 2020 15% 15%
  • Increase in Global Middle Class by 2040 40% 40%

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Asian Middle Class Population Footprint by 2030

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Global Consumption of Asian Middle Class by 2030

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Relative Asian Consumption Expenditure on Food Versus Non-food

2013

Fresh Grow was founded in 2013 by commodities entrepreneurs and Angel investors. The group sought to create a local food business by leveraging new advances in Western agriculture to supply Indonesia’s vastly underserved fresh food market – the world’s fourth largest – where poor quality or shortages are common – and the only solution is importing less-fresh, high-cost perishable food. The Founders strongly believed the situation could not sustain in one the world’s fast-growing hospitality markets (especially Bali), and with an even faster-growing middle-class population eager to adopt healthier diets, using Western ingredients. The Founders’ vision is that locally-grown fresh food is healthier, better-tasting and significantly cheaper to produce. In late 2013, FGH went on to establish a research and development facility in Almann, Bali. The business secured a rare 22-year lease for the facility in order to develop high-quality tomato seeds of gourmet-calibre flavour – a product standard that had not been previously achieved due to Indonesia’s challenging climate, and so largely ignored by large, multinational seed developers.

2014

In early 2014, the Company exclusively licensed I.P. varieties from a specialty Dutch lab that had developed and tested over 700 varieties of tomato seeds specifically for Indonesia, to further optimise for Indonesia’s tough soil, climate and pest environments.

The Company recruited a member of the core team who successfully led the seed development and plant production at China’s largest indoor grower, Le Gaga Holdings, backed by Sequoia Capital, a leading Silicon Valley venture capital firm. As a result of his consultation, the “King Tomato” product was established to develop the three most-sought after gourmet varieties, the Roma, the Cherry and the Beefsteak.

In April 2014, the business identified additional land of 17 ha in Cianjur, a province of Jakarta – Southeast Asia’s largest city. Extensive due diligence concluded Cianjur offered near-perfect climatic conditions, as well as location – just outside of Jakarta, adjacent to one of the few modern highways. The Company made an offer for the land and subsequently purchased the property on 29 December 2014, thus, operating a land portfolio with both R&D and growing activities.

2015

Seed development and production at the R&D facility continued until October 2015 in Almann (Bali). During this period, the business successfully test-marketed its products across major supermarkets (e.g. Pepito Supermarkets, et al.) and top HORECA brands (e.g. The Four Seasons, Garuda Airlines, et al.), confirming the existence of nearly continuous demand for such quality fresh vegetables, with the ability to forward-sell contracts.  The business developed a clearer promotion, planning and strategy and engaged the services of Ms. Farah Quinn, a well-known Indonesian celebrity chef, as the brand Ambassador.  On the production side, the business continued to test multiple growing scenarios using proprietary greenhouse systems and seeds specifically tailored to local conditions.

In late 2015, The Company began to attract investment interest from leading family-run corporate houses seeking an edge in their own agriculture businesses, as well as leading Private Equity firms and a few Development Finance Corporations (DFC’s).  The Company leadership underwent due diligence and considered Term Sheets for investment; however, the Company decided to explore a listing, rather than raise capital from local players and cede control.

By 2016, Fresh Grow was actively receiving solicitations from interested parties from Greater China, Singapore, Israel and elsewhere to invest, buy or simply to franchise the growing model.

2016

Seeking a better governed domicile to build its expansion, Fresh Grow Holdings Pte Ltd was incorporated in Singapore on 21 April 2016.  The entity then acquired the Indonesian business assets of Fresh Grow International PT with a view to raise capital and list on the ASX.

2017

The company established growing operations in the Cameron Highlands, Malaysia area for export to fast-growing and more readily-supplied Singapore and Kuala Lumpur vegetable markets and refreshed senior management in preparation of listing: Australian commodities veteran, Michael Rapattoni was appointed GM to lead FGH team’s strategic growth, construction and business development.  Mr. Rapattoni had held previous roles as CEO, CFO and Company Secretary for Harvey Beef and other large commodities companies across 20 years. The business also employed renowned Ag Tech expert, Luke Rania, to focus on advanced greenhouse applications, and Piet Keijzer, who grew LaGaga Holdings operations from initial investment in 30 hectares to over 2000 hectares, before taking the company public on NASDAQ at a valuation above US$350 million. On the corporate finance side, Tim Morrison and Chairman Peter Wall were added for their combined track records of ASX listings and experience overseeing corporate finance and operations.

2018

With strong management in-place, successful testing at R&D facilities, key markets proven and land acquired, FGH is now positioned to scale-up and serve Asia’s larger market segments.

Board and Management

Michael Rapattoni

General Manager

Mr. Rapattoni is a Chartered Accountant with 22 years experience in Public Practice, Chief Financial Officer and Chief Executive roles. Mr. Rapattoni has a vast experience in Agriculture and has been involved with business in Asia for some 20 years.

Peter Wall

Non-Executive Chairman

Mr. Wall has a wide range of experience in all forms of commercial and corporate law, with a particular focus on resources (hard rock and oil/gas), equity capital markets and mergers and acquisitions.

Luuk Runia

Chief Operating Officer

As the owner of Asian Perlite Industries Sdn Bhd and Greenhouse Solutions Asia, Mr. Runia has played a key role in establishing a number of businesses. Mr. Runia works closely with the University Wageningen Netherlands to develop  technologies suitable for use in greenhouses in tropical climates in South East Asia.

Tim Morrison

Non-Executive Director

Mr. Morrison has extensive capital raising and management experience across multiple sectors and has worked as CEO, executive and non-executive director for a number of ASX listed companies. Mr. Morrison has an MBA from the University of Western Australia.

Demand for fresh food continues to rise…

Organic Produce

Asia’s fast-growing middle-class is consuming healthier, fresher foods, as well as adopting new tastes with more  western influences.

Trending

FGH’s independent analysis  strongly suggest double-digit annual  growth is achievable for fresh produce  consumption, driven by a growing  population and higher spending power  per capita.

Innovation

Local players are ill equipped to develop and deliver in the ways FGH’s tech-enabled model can.