PSP Investments Inks Deal with Citri&Co

Posted on 06/21/2022

Citri&Co is a vertically integrated fresh fruit company in Europe, distributing conventional and organic citrus, melon and watermelon and stone fruit produced in Spain and Brazil. The group markets more than 700,000 tonnes of fruit per year to more than 30 countries and more than 200 customers. Miura Partners is a middle-market private equity firm in Spain based in Barcelona with more than €1 billion of assets under management. The firm is specialized in investing in mid-size family-owned & entrepreneurial businesses, providing attractive growth and innovation plans, and with a clear focus on sustainability. Citri&Co is a Miura Partners portfolio company.

Citri&Co and the Public Sector Pension Investment Board (PSP Investments), one of Canada’s largest pension investment managers, have formed a long-term strategic alliance to acquire and manage agricultural land.

Under the terms of the partnership, PSP Investments will acquire farmland, primarily comprised of citrus fields in Spain; while Citri&Co will operate and manage the farmland, leveraging its decades of experience and technical expertise. Consistent with its vertically integrated, “field-to-table” model, Citri&Co will continue the packing, distribution and sale of all produce grown on the properties. Both parties, together with Miura Partners, will continue to seek opportunities for the acquisition, development and management of agricultural land, which will strengthen Citri&Co’s position as a year-round supplier of fresh fruit. PSP Investments is a global investor in agriculture and timber. With approximately C$16 billion of assets under management in its agriculture and timber portfolio globally, the organization has developed a number of similar alliances with like-minded partners in geographies around the world.

    Get News, People, and Transactions, Delivered to Your Inbox