Capital Vantage manages to secure a €14 million investment deal with SPMS in new financing agreement.
In a significant move for the African agricultural sector, Vantage Capital, Africa's largest mezzanine fund manager, has invested €14 million in Société de Production Maraîchère Samir (SPMS). This investment is set to propel SPMS's growth strategy and help the company achieve its long-term vision of expanding market presence.
Based in Agadir, Morocco, SPMS was founded by Moroccan agronomists Samir Jbali and Samir Belhouari. The company, dedicated to corporate social responsibility, has been providing employment, training, clean drinking water, and rehabilitating local schools in the communities it serves.
SPMS initially specialized in cherry tomato production in 1992 and expanded into red fruits like raspberries, blueberries, and blackberries in 2014. The company is renowned for its high yields and ongoing efforts to innovate in berry production, including the use of dual-irrigation systems, desalinated water, digital monitoring, and biological threat prevention.
At present, SPMS employs over 2,000 people, primarily farm workers trained in modern agricultural techniques. The company currently oversees a cultivated area of 101 hectares, a figure that is set to triple with the investment from Vantage Capital, expanding to over 300 hectares.
Samir Jbali, SPMS's CEO, believes this partnership will enable the execution of the company's long-term vision. Luc Albinski, Executive Chairman at Vantage Capital, has expressed enthusiasm for supporting SPMS, stating that this investment is part of Vantage Capital's 38th across four generations of funds, spanning 11 African countries.
Driss Benabdeslam, Partner at Vantage Capital, expresses confidence in SPMS's management and strategic direction. The investment was advised by Mouttaki & Partners as legal counsel and Majorelle Capital as financial advisor, both based in Morocco. Vantage Capital received legal advice from Clifford Chance in Morocco, Deloitte for financial advice and tax services, Baker McKenzie for tax in Luxembourg, Emerton for commercial advice in France, and Ibis Consulting for reviewing environmental impacts in Morocco.
This investment marks a significant step for SPMS as it continues to innovate and grow, contributing to the agricultural sector in Morocco and beyond. With its commitment to corporate social responsibility and its dedication to sustainable and innovative farming practices, SPMS is poised for a bright future under the guidance of Vantage Capital.
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