Investcorp agrees to sell Agromillora to agricultural industry
Manama, Mar. 28 (BNA): Investcorp announced that it has sold its majority stake in Agromillora to the founders of Agromillora and to Edify, the investment holding company controlled by the Despature family. The financial terms of the transaction were not disclosed.
Founded in Barcelona in 1986, Agromillora is a provider of advanced plant propagation services to the agricultural industry with a focus on permanent crop producing trees including stone fruit trees, citrus trees, almond and other nut trees, olive trees, berries and vines.
Investcorp invested in Agromillora in December 2016 and has worked closely with its founders and management team to drive growth through international expansion and continuous innovation.
This has included supporting Agromillora to strengthen and expand its market position, investing over €30m 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.
Since 2012, Investcorp has invested €1.7 billion in companies across Europe. The sale of Agromillora follows other previous investments in other Spanish companies, such as Grupo Esmalglass-Itaca and Fritta, and follows the sale of another portfolio company, Dainese, announced in March 2022.
