Fresh-produce supplier Camposol is to become a shareholder in Mexican avocado company Jaliscavo.
In a statement, the Peruvian company said adding Mexican production will “complement” its harvest cycles, “diversify” sourcing and “strengthen its conventional and organic avocado offering”.
Camposol produces avocados in Peru and Colombia.
Ricardo Naranjo, Camposol's chief executive, said the investment is a “concrete step in the execution of the strategic plan we have been developing to consolidate a global avocado sourcing platform”.
Jaliscavo, a business backed by its growers, works with 12 partner producers and 44 registered orchards across Jalisco, Colima and Michoacán.
It also operates a packing facility in Gómez Farías in Jalisco, with the capacity to process up to 48,000 tonnes of fruit annually, Camposol said.
The investment follows Camposol’s $400m financing deal with lenders including the International Finance Corporation and Rabobank.
Announcing the funding in December, the company said the funding would support productivity, water-use efficiency, and genetic improvement, including work across its avocado operations.
Camposol hopes the latest transaction will allow it to “better” cater to North American retailers, distributors, and foodservice operators.
The company plans to work with Jaliscavo’s existing partners and “progressively” expand sourcing from independent growers.
It also intends to “play an active role” in supporting the business with its production expertise, international market knowledge, and customer relationships.
Avocados supplied through Camposol’s commercial programmes will be sold under the Camposol brand, with the country of origin identified.
The deal comes as the avocado sector continues to attract investment.
In April, California-based GreenFruit Avocados was acquired by an investor consortium including Spanish firm Tahuaycani and former Mission Produce executive Jim Donovan.
GreenFruit said at the time that Mexico will remain a “core foundation” of its sourcing model alongside plans to expand across South America, California, and Europe.
That deal followed Mission Produce’s agreement in January to acquire fellow California supplier Calavo Growers in a transaction valuing Calavo at around $430m.
Last week, Mission Produce set out a plan to double sales and triple adjusted EBITDA by 2035.
