AGROVISION PERU SAC
Status: Approved investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Agrovision is a vertically integrated company that produces, packages, and distributes wholesale high nutrient foods (blueberry, asparagus, avocado, and grapes mostly), with operations in Northern Peru, but which have now extended to Mexico and Morocco.
What is our funding objective?
Agrovision has, until recently, managed its sustainability aspects in an ‘intuitive’ manner, with company focus on the social aspects of the organisation, a highly professional H&S department, and environmental aspects managed by a third party. Although this arrangement has been effective for the Peruvian operations, the company recognised that, if they want to become a global front runner in Sustainability, they need to increase their capacity in H&S and E&S management. FMO advised Agrovision on how to define the Sustainability Strategy, in a way that could be consistent across global operations. Given that the center of operations is going to be Peru, the preferred approach is to have consultants with experience in international sustainability standards to evaluate Agrovision’s existing capacities, and support them for at least one year in the transition to a strong, systematic, highly functional H&S and E&S management operation. Agrovision reached out to several consultants that could support them in this route, and decided to approach it by getting support from the consultant that is currently managing the environmental aspects (La Selva, a local consultant involved in the development of the ESMS, as well as implementation of the management system), together with SGS, who would be in charge of increasing the capacities at the technical level, and undertaking an assessment of gaps. FMO will be providing additional technical support, templates, documentation, and provide oversight during this assessment.
Why do we fund this investment?
Agrovision is expanding rapidly and have been very proactive in adopting those practices that FMO has requested, in order to be more sustainable (for example, they have acquired AWS certification). Nevertheless, at their management level FMO sees an opportunity to further enhance the management of the operations in a professional manner, especially in terms of social support. Agrovision wants to be a leader in sustainable agricultural production, and we see that they need good guidance to grow orderly in this manner.
More investments
| Date | Total FMO financing |
|---|---|
| 9/30/2020 | EUR 0.08 MLN |
| 4/22/2020 | USD 15.00 MLN |
- Region
- Latin America & The Caribbean
- Country
- Peru
- Sector
- Agribusiness, Food & Water
- Effective date
- 10/5/2022
- Total FMO financing
- USD 0.04 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B+