Major fresh-produce supplier Camposol plans to enhance productivity, water usage, and genetic innovation following a substantial $400 million financing deal. The Peru-based company has gained financial backing from notable institutions, including the International Finance Corporation and Rabobank.
In its statement, Camposol articulated its intent to scale its genetic improvement program, which has already demonstrated superior yields. The organization is also investing in the varietal renewal of its blueberry crops and optimizing productivity across its avocado plantations. This strategy aligns with their forecast that exports will increase by over 30% by 2030, alongside significant advancements in water-use efficiency.
In December, Camposol appointed its then-interim CEO, Ricardo Naranjo, as the permanent leader after José Antonio Gómez’s resignation. The company has shown remarkable growth, with sales rising 21% during the first nine months of 2024, totaling $367 million. Notably, blueberry sales surged nearly 63%, while avocado volumes climbed 14%. Despite this, EBITDA slightly decreased by 1% to $101.2 million, and net profit dropped 41% to $19.2 million.
Camposol operates throughout the entire fruit production supply chain, encompassing growing, processing, harvesting, and marketing. Its offerings include blueberries, avocados, mandarins, grapes, and mangoes, with facilities located in Peru, Colombia, Uruguay, Chile, and Mexico. The company also maintains distribution centers across North America, Europe, and Asia. During the third quarter, Camposol launched a “biofactory” in northern Peru with the capacity to produce up to five million blueberry plants annually.
“The third quarter demonstrated the continued strength of our strategy and disciplined execution,” stated CEO Naranjo during the recent results announcement. “We achieved another strong financial performance, keeping our net debt-to-EBITDA ratio below the 3.5 times threshold for the fifth consecutive quarter, reinforcing our deleveraging efforts and financial resilience.”
In the ever-evolving food and beverage industry, Camposol’s ongoing investments reflect a commitment to adaptability and growth. The company’s dedication to improving water resources and expanding genetic research positions it to meet emerging consumer demands in the food and drink business effectively.
As Camposol continues to innovate and optimize its processes, it remains focused on addressing customer needs and staying ahead of food and drink consumer trends. This proactive approach not only enhances the business’s sustainability but also strengthens its competitive advantage in the marketplace.
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