AgDevCo in equity investment deal with Agris for growth of fresh-food production and distribution in East Africa.
Summary
NAIROBI, Kenya, April 30, 2024 /PRNewswire/ -- Specialist agriculture investor AgDevCo has made an equity investment, for a significant minority position, into East African agri- business platform Agris - the agriculture division of Maris Ltd.The investment will support the growth of Agris production and distribution of high- quality herbs, vegetables, and avocados from its farms in Kenya, serving domestic and international markets. Evergreen Herbs was started by rehabilitating two farms near Nairobi and is now one of the largest producers of fresh cut herbs in East Africa, with year-round production and more than 2,000 employees.Evergreen Fresh distributes fruit and vegetables from Agris farms and outgrower network to all major outlets in Kenya. "This investment will help us deploy innovative agri-business practices, to consistently and sustainably produce high-quality fruit and vegetables for the local market and consumers overseas, and continue growing with our partners," said Ran Kadosh, Agris CEO. Agris oers investors unique access to an integrated portfolio of agri-business operations positioned to meet rising global demand for high-quality food fresh produce.More information can be found at:AgDevCo is a specialist investor in African agriculture, growing sustainable and impactful agribusiness, with USD 280m under management. Their vision is a thriving commercial agriculture sector, which benefits both people and planet by investing in and supporting agribusinesses to grow, create jobs, produce, and process food and link farmers to markets.