Chairman Steve Magami said capital will allow company to pursue strategic opportunities on a global scale
Agrovision has announced the successful completion of a US$210m syndicated financing to fund the next phases of its ambitious global growth plan.
The arrangement comes with an option to upsize the facility by an additional US$190m for a total size of US$400m.
The long-term, flexible financing was led by Credit Suisse and co-leads Rabobank and Santander. ICBC and others also participated in the syndicate.
“We are very excited to have closed this landmark financing in a volatile environment. This reflects the market’s confidence in the financial strength and prospects of Agrovision,” said chairman Steve Magami.
“The capital will allow us to pursue strategic opportunities on a global scale and to increase the supply of the world’s best berries from markets current and new.”
Agrovision is a leading, vertically-integrated producer and supplier of superfruits and vegetables. It operates farming, supply chain and marketing activity in the three leading consumer markets: Asia, North America and Europe.
Agrovision is a mission-driven business, seeking to transform lives while promoting sustainability.
The Company has also been recognised for its commitment to the environment, receiving one of the highest distinctions for the conservation and sustainable use of natural resources and biodiversity.