Major fresh-produce supplier Camposol is to invest in areas including productivity, water use and genetics after striking a $400m financing deal.
The Peru-based company has secured the backing of a group including the International Finance Corporation and Rabobank.
In a statement, Camposol said the investment will mean the company can “scale its genetic improvement programme”, which had achieved “superior yields”.
The group is also planning to invest in the varietal renewal of blueberry crops and at its avocado plantations, where it sees opportunities to improve productivity.
Camposol expects its exports will jump by more than 30% by 2030 and is targeting “greater water-use efficiency”.
Last December, Camposol named its then interim CEO Ricardo Naranjo as the permanent head of the company. Naranjo had been interim chief executive since June last year when former CEO José Antonio Gómez resigned.
In the first nine months of this year, sales grew 21% compared to the corresponding period of 2024, reaching $367m. Blueberry sales volumes leapt almost 63% while avocado volumes were 14% higher.
EBITDA dipped 1% to $101.2m, although net profit fell 41% to $19.2m.
Camposol is engaged in fruit production across the supply chain from growing, processing, harvesting and marketing. Its range consists of blueberries, avocados, mandarins, grapes and mangoes.
The company operates facilities in Peru, Colombia, Uruguay, Chile and Mexico. It also has distribution centres in North America, Europe and Asia.
During the third quarter, Camposol opened a “biofactory” in northern Peru that has an annual capacity for up to five million blueberry plants.
“The third quarter demonstrated the continued strength of our strategy and disciplined execution,” CEO Naranjo said when the company announced the results two weeks ago. “We delivered another solid financial performance, maintaining our net debt-to-EBITDA ratio well below the 3.5 times threshold for the fifth consecutive quarter, reinforcing the progress of our deleveraging trajectory and the resilience of our financial profile.”
