Agrovision closes $210MM in funding for growth
FOR IMMEDIATE RELEASE: May 12, 2022 — Los Angeles, California — Agro Vision Corp. (“Agrovision”) has successfully closed a $210 million syndicated financing that will fund the next phases of its ambitious global growth plan.
The arrangement comes with an option to upsize the credit facility by an additional $190 million for a total size of $400 million. The long-term, flexible financing was led by Credit Suisse and co-leads Rabobank and Santander. ICBC and others also participated in the funding.
“We are very excited to have closed this landmark financing in a volatile environment,” said Steve Magami, Chairman of Agrovision. “This reflects the market’s confidence in the financial strength and prospects of Agrovision. 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. The Company operates farming, supply chain and marketing activity in the three leading consumer markets: North America, Asia and Europe.