By Lubna Hamdan
Developer of high yielding plants and trees Agromillora Group one of five companies acquired by Investcorp’s European Corporate Investment team
Bahrain-based global provider of alternative investment products Investcorp has acquired a majority stake in Spanish developer of high yielding plants and trees Agromillora Group.
However, the group’s founders and management team will maintain a minority stake in the company as part of the transaction.
Agromillora has a key focus on the production and marketing of permanent crops including stone fruits, citrus, nuts, berries, olive trees and grape plants. It also provides nurseries and growers worldwide with tissue culture propagation laboratories located across five continents and 11 production facilities in nine countries.
“Demand for Agromillora’s products and high-density plantation models is supported by favorable long-term trends driven by increasing population, GDP per capita and, ultimately, food consumption which in turn requires continuous improvements in agricultural land productivity,” said co-CEO of Investcorp Mohammed Al-Shroogi.
“We believe that Agromillora’s diversified revenue mix across geographies and crops, combined with the company’s track record as an innovator in its industry, ideally positions it to continue its successful expansion into new markets. We look forward to working with Agromillora’s first-rate management team to help the company achieve its long-term growth ambitions,” he added.
Managing Director at Investcorp in Bahrain Fahad Murad added Investcorp’s European Corporate Investment team acquired five new portfolio companies and exited nine in the past 12 months.