Karuturi Global has decided to disinvest its holding in Florista India, a non-material, unlisted subsidiary company, as a business strategy. This Disinvestment will have no material impact on the existing business of the Company. The company has received its board approval at its meeting held on February 14, 2015.
Karuturi Global (KGL) is the largest producer of cut roses in the world, with are area of over 292 hectares under Greenhouse cultivation and an annual production capacity of around 555 million stems. Headquartered in India, the company has international offices located in Ethiopia, Kenya, Dubai and Holland. It exports products to countries namely Holland, Germany, United Kingdom, Italy, Singapore, Hong Kong, Taiwan, Bahrain, Muscat, Dubai, Australia, Japan, New Zealand, Brunei and North America.
