Key Takeaways:
- Vantage Capital has invested €14 million in Société de Production Maraîchère Samir (SPMS) to support the company’s expansion plans.
- SPMS, a leading grower of cherry tomatoes and red fruits, will use the funds to triple its cultivated area to over 300 hectares.
- SPMS is committed to sustainable farming practices, including the use of desalinated water, digital greenhouse monitoring, and a strong Corporate Social Responsibility program.
- The investment marks Vantage Capital’s 38th deal and its fourth in Morocco.
Vantage Capital, Africa’s largest mezzanine fund manager, has announced the closure of a €14 million mezzanine investment in Société de Production Maraîchère Samir (SPMS), a leading agricultural company based in Agadir, Morocco. The investment will part-fund SPMS’s growth strategy, enabling it to expand its cultivated area from 101 hectares to over 300 hectares, focusing on cherry tomatoes and red fruits like raspberries, blueberries, and blackberries.
Founded by Moroccan agronomists Samir Jbali and Samir Belhouari, SPMS has been a key player in the agricultural industry since 1992, and it expanded into red fruits in 2014 through a partnership with the US-based company Driscoll’s. The company employs over 2,000 workers, many of whom are trained in modern agricultural practices.
Sustainable Practices and Community Support
SPMS integrates sustainability into its operations by using dual-irrigation systems, desalinated water, and digital solutions to monitor greenhouse conditions. These efforts help the company address local water scarcity and reduce its environmental impact. SPMS is also deeply involved in Corporate Social Responsibility (CSR), supporting local communities by providing employment, drinking water, and rehabilitating schools in surrounding villages.
Investment to Drive Future Growth
With Vantage Capital’s support, SPMS plans to accelerate its growth by tripling its cultivated land. The company’s CEO, Samir Jbali, commented, “We are very pleased to have the support of Vantage Capital. This transaction marks a significant milestone for our company and will enable us to execute our long-term strategic vision of expanding our market presence.”
Luc Albinski, Executive Chairman of Vantage Capital, added, “We are proud to support SPMS in its next phase of growth. The agricultural sector in Morocco is very dynamic, and SPMS has consistently demonstrated strong leadership.”
Vantage Capital’s Track Record
This transaction marks Vantage Capital’s 38th investment and its fourth in Morocco. The firm has a wide portfolio spread across eleven African countries.
Legal, financial, and commercial advice for the transaction was provided by a range of firms, including Clifford Chance, Deloitte, and Emerton, while SPMS was advised by Mouttaki & Partners and Majorelle Capital.
