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Recently, AgroFair’s founder, the Dutch NGO Solidaridad, sold the last remaining part of its shares in our company. Solidaridad, founder and creator of the Max Havelaar/Fairtrade concept, established AgroFair in 1996 with the sole purpose to bring the Fairtrade or banana on the market. Since then, both the Fairtrade concept and AgroFair, have been hugely successful. The European market share of Fairtrade bananas is around 10%, while AgroFair has grown from humble beginnings to a company selling close to 8 million boxes of Fairtrade and sustainable bananas per year.
Solidaridad took the unique decision to let banana producer organizations participate in the share capital of AgroFair. In this way, farmers in the South participate in the value added in the Northern consumer markets. By the transfer, the farmer shareholders increase their participation in the share capital to well over 40%, whereas ethical investor PPP acquires another part of the shares.
With this move, the unique producer-owned character of AgroFair is reinforced, while AgroFair continues to work with Solidaridad on important themes of social and ecological fairness.