Funding will go towards the expansion of company’s avocado and table grape production
Peru’s Agrícola Chapi has obtained US$130m in financing to fund the development of its avocado and table grape business. The company plans to reach 1,200ha of avocado production and 900ha of table grapes over the medium term.
The financing, a combination of structural and subordinated debt, will be disbursed in stages until March 2024. The credit facility was granted by Cordiant Capital, a specialist global infrastructure and real assets manager with a dedicated practice in agriculture.
Chapi is part of the table grape breeding programme of the two main American genetics houses, Sun World and IFG.
“For Agrícola Chapi, it is extremely important to have secured this financing. It fills us with satisfaction to know that our stakeholders trust the strategic plan we have outlined as a company and recognise the potential of Peruvian agribusiness,” said CEO Augusto Baertl Espinoza.
“Our plan aims to expand our agricultural frontier with sustainable management that contributes to conserving the region’s flora, fauna, and water resources. We also aim to improve the quality of education and nutrition of the children around us.