Agrovision, a company focused on technology-driven superfruit cultivation, recently announced closing $400 million in senior secured credit facilities, marking another step in its growth as a premium, year-round berries supplier. The financing, comprising a $230 million five-year term loan and a $150 million three-year revolving credit line, will allow Agrovision to refinance its $210 million credit facility and short-term credit lines. The remaining capital will drive the company’s plans to expand into new markets and enhance its technology for sustainable, high-quality fruit production.
The credit facility follows a $100 million equity round closed in August, led by Aliment Capital with contributions from notable investors, including Oaktree Capital Management’s co-founder, Steve Kaplan. This equity round, which valued Agrovision at over $1 billion, highlighted investor confidence in the company’s vision for the future of fresh produce. This latest financing will enable Agrovision to strengthen its reach and technological capabilities, focusing on innovations in genetic research, robotics, and artificial intelligence (AI).
From Founding to Global Presence
Founded in 2012 by Steve Magami, Agrovision began as a modest venture aimed at improving the availability and quality of blueberries in international markets. Recognizing the need for consistent supply and higher quality standards, Agrovision quickly invested in vertical integration across its operations—from cultivation to distribution—allowing for greater control over the quality and availability of its fruit. Today, the company grows, packages, and markets superfruits such as blueberries, blackberries, and raspberries under its Fruitist and Big Skye brands, reaching consumers in North America, Europe, and Asia.
Agrovision’s vertically integrated model and advanced use of technology have driven its growth and reputation. The company manages its operations across multiple climates, including farms in Peru, Mexico, Morocco, and the United States, to maintain a steady supply of superfruits regardless of season.
Investing in Technology and Expanding Markets
With this new credit facility led by Rabobank and Banco Santander, Agrovision will continue to focus on expansion and innovation. The financing will support initiatives in emerging markets and broaden Agrovision’s customer reach. The company’s use of AI and robotics to maintain quality control across geographies and its investment in genetic research for improved flavor and climate resilience exemplify its commitment to dependable quality. The technology-driven approach ensures that Agrovision can consistently meet the rising global demand for superfruits, especially as health-focused consumers seek fresh, high-quality options.
The company’s recent partnership with RipeLocker, a Seattle-based ag-tech company, demonstrates its focus on practical technological applications. RipeLocker’s innovative storage technology has extended the shelf life of Agrovision’s berries, allowing the company to meet retailer and consumer expectations for fresh fruit with less waste. Agrovision’s efforts in genetic R&D further strengthen its ability to offer flavorful, resilient fruit that is less susceptible to climate variability
Commitment to Sustainability and Community
Agrovision has committed over $550 million toward building a sustainable, community-oriented company. The company’s agricultural practices align with over ten United Nations Sustainable Development Goals, focusing on enhancing biodiversity, mitigating climate change, and improving local communities’ quality of life. Employing approximately 15,000 field workers in regions like Peru, Agrovision’s operations provide stable jobs, many of which empower women through financial independence and skills training. This inclusive approach has fostered strong community partnerships and contributed to local economies.
In addition to sustainable farming, Agrovision’s use of regenerative practices improves soil health and reduces environmental impact, reflecting its dedication to responsible, long-term growth. These strategies position Agrovision as a company focused on quality not only in its products but also in its impact on the planet and its people
With its newly strengthened financial foundation, Agrovision plans to expand production in emerging areas such as Indonesia and Egypt and deepen its market presence in established regions, including the United States, China, and Europe. CEO Steve Magami expressed confidence in the company’s ability to balance growth with sustainable practices, leveraging advanced technology to support its global presence.
“We are delighted to reinforce our partnerships with a world-class group of global banks to accelerate our growth and innovation efforts in transforming the produce aisle,” said Steve Magami, Chairman and CEO of Agrovision. “We appreciate the strong support from our long-standing lenders, and look forward to leveraging these resources to drive our mission forward and deliver exceptional value and wellness to consumers.”
This $400 million financing marks a pivotal step for Agrovision, equipping it to broaden its offerings and solidify its role as a trusted provider of premium superfruits.
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