Introduction
Vantage Capital, a leading fund manager across Africa, has finalized a significant €14 million mezzanine financing deal with Société de Production Maraîchère Samir (SPMS), a key player in Morocco’s agricultural sector. This investment is set to fuel SPMS’s ambitious growth plans, which include a threefold expansion of its farming acreage, driving the company’s rapid development.
Strategic Investment to Drive Agricultural Growth
The new financing from Vantage Capital will allow SPMS to significantly scale its operations. Currently managing over 101 hectares of farmland, SPMS plans to expand its reach to over 300 hectares. This growth aligns with SPMS's long-term strategy to enhance its production capacity and solidify its market position.
Samir Jbali, CEO of SPMS, welcomed the partnership with Vantage Capital, stating that the investment is a crucial milestone in the company’s growth trajectory. "This backing will enable us to realize our strategic vision and reinforce our role as a leader in the Moroccan agricultural market," said Jbali.
SPMS: A Leader in Morocco’s Agricultural Landscape
Founded by agronomists Samir Jbali and Samir Belhouari, SPMS has been an essential part of Morocco’s agricultural sector for decades. Initially focused on cherry tomatoes since its inception in 1992, the company expanded its crop range in 2014, branching into red fruits such as raspberries, blueberries, and blackberries through a partnership with Driscoll’s, a global berry market leader.
Operating out of Agadir, Morocco, SPMS employs more than 2,000 individuals, many of whom receive training in cutting-edge agricultural techniques. This ensures that the company remains competitive and innovative within the agricultural sector. With the latest investment from Vantage Capital, SPMS is poised for a period of unprecedented growth, helping to transform the agricultural landscape of Morocco.
Vantage Capital’s Continued Confidence in Morocco
This transaction marks Vantage Capital’s fourth investment in Morocco, underlining its commitment to supporting the country's growing industries. Luc Albinski, Executive Chairman of Vantage Capital, praised SPMS for its leadership and innovation in Morocco's flourishing agricultural sector. “We are thrilled to support SPMS in its expansion and believe this partnership will further strengthen its position in the market,” said Albinski.
A Collaborative Effort Backed by Industry Expertise
The successful completion of the deal was supported by an array of expert advisory services. Clifford Chance provided legal guidance, while Deloitte offered financial and tax consulting. Environmental assessments were conducted by Ibis Consulting to ensure the expansion aligns with sustainable agricultural practices.
This investment is not only a significant step for SPMS but also for the broader Moroccan agricultural industry. As SPMS accelerates its expansion, this deal positions the company to further contribute to Morocco’s economic growth and agricultural innovation.
A Bright Future for Morocco’s Agricultural Sector
Vantage Capital’s €14 million investment is expected to catalyse a new phase of development for SPMS, reinforcing its market position and setting the stage for further growth. As SPMS expands its operational footprint, it continues to play a vital role in transforming Morocco’s agricultural sector, driving innovation, and creating employment opportunities.
