Bahrain-based leading global alternative investment firm, Investcorp has sold its majority stake in the Spain-based Agromillora to its founders and Edify, the investment holding company controlled by the Despature family.
Mr. Yusef Al Yusef, Head of Investcorp’s Private Wealth, said that, “Since we acquired Agromillora, we have witnessed the hard work and passion of the entire team to help grow the business and show true innovation in the agricultural sector. It was a pleasure working with the team and we wish them continued success in their next phase of growth.”
“Investcorp has been a true partner to us over the last five years supporting the development of Agromillora, which is now in great shape for the further opportunities that lie ahead,” commented Mr. Jordi Mateu, CEO of Agromillora.
In December 2016, Investcorp invested in Agromillora and worked closely with the company’s founders and management team to accelerate growth through international expansion and continuous innovation.
“This has included supporting Agromillora to strengthen and expand its market position, investing over $32 million (€30 million) in growth initiatives across Europe, the US, Latin America, and Australia and ultimately increasing the adoption of high-density plantation models across crops and geographies,” according to the reports.
Founded in 1986, Agromillora is a global provider of advanced plant propagation services to the agricultural industry with a focus on permanent crop-producing trees including stone fruit trees, citrus trees, almonds, and other nut trees, olive trees, berries, and vines.
Now, the company provides nurseries and growers worldwide with a complete portfolio of high-density trees through tissue culture propagation laboratories located across five continents and develops proprietary rootstocks for high-density plantation models and products.