Manulife Investment Management has unveiled a minority partnership with Parreira Almond Holding Company, LLC (PAHC), a family-owned firm specializing in almond hulling, shelling, processing, and marketing. The partnership is expected to facilitate future growth for PAHC and its wholly-owned subsidiaries, RPAC, LLC (RPAC) and Parreira Almond Processing Company, LLC (PPAC). In addition to bolstering existing operations, the investment will support further acquisitions and ensure a steady supply of high-quality almonds grown in California and across the U.S.
“We are thrilled to partner with the Parreira family, who has been in the almond processing business, farmland plus investment, for over 50 years. They understand the complexities of agriculture and take a long-term view to growing processing, and marketing almonds,” expressed Oliver Williams, Global Head of Agricultural Investments Manulife Investment Management. He added that the investment would contribute additional risk mitigation to the agricultural platform, benefiting the firm’s investors.
‘Farmland plus’ investments typically involve companies and assets integrating farm production with processing and marketing, significantly broadening the investment possibilities beyond pure farmland. These investments aim to mitigate risk and potentially boost the returns of a permanent cropland portfolio, offering added value, increased revenues, improved diversification, access to various end markets, and decreased price volatility.
Paul Parreira, PAHC’s Managing Partner, expressed his excitement about the partnership, stating, “We look forward to growing the business together and continuing to supply our customers with high-quality almonds for generations to come.”
Manulife Investment Management is the world’s largest manager of natural capital. It oversees approximately 400,000 acres of prime farmland in major agricultural regions across the United States, Canada, Chile, and Australia as part of its comprehensive private markets strategies. The company’s U.S. agricultural platform is certified to the Leading Harvest Farmland Management Standard, exemplifying its commitment to sustainable practices, robust management, and continual improvement. Furthermore, Manulife manages approximately 6 million acres of timberland across the United States, Canada, New Zealand, Australia, Brazil, and Chile, all of which are certified under either the Sustainable Forestry Initiative® (SFI®) or the Forest Stewardship Council® (FSC®).
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