Superfruit Industry Disruptor Agrovision Announces Largest Equity Financing to Date with Leading Growth Capital Investors to Scale its Global Footprint

LOS ANGELES, March 20, 2024 /PRNewswire/ -- Agrovision, the leading technology-enabled superfruit platform, known for its premium berries sold under The Fruitist and Big Skye brands, today announced a growth capital investment led by Los Angeles-based Aliment Capital, a global investment firm investing across the food value chain, health and nutrition, and the supply chain. With a focus on key strategic initiatives, Aliment will provide additional capital and expertise to help take Agrovision to its next level of growth.

The investment will fund Agrovision's continued global expansion, distribution, product development and technology, as the Company continues scaling its differentiated year-round product offering. Agrovision leverages its unique global footprint of optimal micro-climates, access to proprietary premium genetics, advanced data analytics and vertical integration, to deliver berries with a superior eating experience. As the ultimate healthy snack, its Fruitist and Big Skye brands are positioned to take growing share of the healthy snacking market, with premium berries alone expected to reach $10 billion by 2030.

Aliment Capital invests in commercially established businesses with proven technologies as part of a broader commitment to improve productivity, efficiency, and sustainability in the food and agriculture supply chain, as well as nutrition and health. Food and Agriculture is the world's second-fastest growing industrial sector, now estimated as a $13 trillion market, feeding the planet and employing nearly 40% of the world's population.

"We are excited to close this partnership with a leading growth capital investor in our industry, a testament to our strategic vision and the opportunity we have to inspire consumers to live healthier lifestyles," said Agrovision Co-Founder, CEO and Executive Chairman Steve Magami. "Agrovision is fully committed to reliably advancing the highest quality superfruits to consumers for healthier snacking 365 days a year, as we continue to build on our legacy of operational excellence in sustainable agriculture."

"Agrovision is a scaled, global operator in a large and growing market driven by secular consumer trends and strongly reaffirms our thematic focus on 'food-as-health," said Aliment Co-founder and Managing Partner Ben Belldegrun. "We are enthusiastic to partner with a leading management team and Board, who are at the forefront of bridging agricultural productivity and genetics, nutrition and environmental sustainability, to drive the Company's next chapter of growth."

Bringing the World a Better Berry

In less than ten years, Agrovision has become a global leader in the premium blueberry category – the fastest growing segment of the market. Agrovision's Jumbo Blueberries offer an exceptional crunch and flavor, and are loved by youth and families. The company is scaling in premium raspberries, offering a tastier and longer-lasting fresh berry, and is also rapidly expanding into blackberries and cherries. Agrovision invests heavily in new genetics, artificial intelligence, and other proprietary technology to deliver an elevated eating experience with greater efficiency and productivity.

Award-Winning Commitment to Responsible Business

Agrovision's sustainability strategy follows a three-prong model: increase the biodiversity of ecosystems and ecological functioning in the regions in which it operates; mitigate climate change; and improve the quality of lives of the local population and communities. For its efforts, the company has been recognized with multiple awards and distinctions. The company is proud to be aligned with 11 of the 17 UN's Sustainable Development Goals and to have earned the most prestigious certifications.

J.P. Morgan and UBS Investment Bank acted as placement agents to Agrovision on the transaction.

About Agrovision

Agrovision is a leading, vertically-integrated global superfruit platform focused on blueberries, blackberries and raspberries. Headquartered in the U.S., Agrovision has world-class operations in the most optimal micro-climates globally, using technology and climate resilient genetics to deliver better quality and a superior eating experience, reliably. The company markets direct to retailers worldwide under The Fruitist brand. In China, Agrovision markets its blueberries to consumers under the Big Skye brand. The company is founder-led and backed by leading investors that are aligned with Agrovision's values and long-term mission and vision. Learn more at www.AgrovisionCorp.com.

About Aliment Capital

Founded in 2013, Los Angeles-based Aliment Capital, is a sector focused investment firm advancing a healthy and prosperous future for the plant and its people. Aliment invests growth capital in established businesses with proven technologies that improve productivity, efficiency, and sustainability across three verticals, food systems, supply chain, and health and nutrition. Aliment Capital is a purpose-driven investment manager and pioneer in global sustainability investing. For more information, visit www.alimentcap.com.

Media Contact
Sonya Grigoruk, Public Relations for Agrovision
[email protected] | 213.810.1016

SOURCE Agrovision Corp.