COFIDES will provide financial support to the Planasa Group to facilitate its consolidation in Mexico. To this end, it will provide 12.77 million dollars in euro, i.e. up to a maximum of 11.6 million euro, through a joint venture loan to the project company, Planasa Mexico.
The financing provided by COFIDES to Planasa - under FIX and its own resources - will facilitate the acquisition of land (110 ha) and facilities necessary to expand the production of strawberry and raspberry plants. Thus, the company will be able to cover the high levels of demand it currently has and may increase its market share.
Planasa has been present in Mexico since 2010 and it is dedicated to the cultivation, development, and sale of plant varieties, mainly of berries (strawberry, raspberry, blueberry, and blackberry). Mexico is one of the company's main sources of growth, as it is one of the world's leading producers of berries.
Planasa Mexico's El Esfuerzo farm
Investment in R&D is a fundamental part of Planasa Group's core business and a way that they contribute to varietal innovation in agricultural production. This is complemented by the transfer of knowledge and know-how that occurs where they carry out their projects, contributing to the achievement of SDG 9 (Industry, innovation, and infrastructure). It also favors SDG 5 (Gender equality) and 10 (Reduction of inequalities).
According to the president of COFIDES, Jose Luis Curbelo, “the companies that rely on R&D generate value and are more competitive.” "We hope that this investment will contribute to consolidating the company's growth and that it favors the generation of employment and opportunities in Mexico."
The president of Planasa, Alexandre Pierron Darbonne, stated that “this project in Mexico, the first one of our strategic plan 2020-2024 being executed, materializes our commitment to a growing market. We hope to count on COFIDES as a financial partner in the immediate future and in new R&D and internationalization projects.”
Planasa has an international presence thanks to a commercial network distributed in 4 continents and an intense network of collaborators in different countries and climatic regions. The objective of the company is to obtain new plant varieties to achieve a balance that meets the future needs of the farmers and the consumer tastes in different markets. It has farms all over the world, which have been strategically chosen for the quality of their soils and climatic conditions. They carry out commercial crops, research, observation and test new varieties for continental, Mediterranean, temperate, and tropical climates.
For more information:
Spanish Development Financing Company, COFIDES
Paseo de la Castellana, 278, 28046 Madrid, Spain
Tel: +34 91 562 60 08