Impact investor Acumen Latam Capital Partners completed an investment in Phoenix Foods, a Peruvian agro-industrial exporter
(Press Release) Acumen Latam Capital Partners LLC (“ALCP”) announced today an investment in Phoenix Foods, a Peruvian agro-industrial company leader in the commercialization and export of fruits and vegetables with value added and pioneer in responsible supply management with high social impact.
Phoenix Foods is a Peruvian company dedicated to the purchase, processing and sale of fruits and vegetables in local and international markets. Through the “Vitta Fresh” brand, the company operates three business units: the frozen unit, in which prevails the export of guacamole; the fresh fruit unit, which includes local commercialization and export of fruits and vegetables; and the fresh cuts unit, which is directed exclusively to the local market and includes the sale of ready-to-eat fruits and vegetables, as well as salads and natural fruit juices, distributed both to supermarkets nationwide and to restaurants in Lima. Phoenix Foods is the only company in Peru that uses “High Pressure Processing Technology”(HPP), which allows them to offer products of the highest quality and extend the products shelf life without using any type of preservative.
Phoenix Foods has a unique model for managing its supply based on long-term relationships with producers and complete traceability of products from the field to the final consumer. Thus, the company has been able to support the growth of more than 420 small and medium producers nationwide, involving them in the value chain and treating them with dignity. These producers benefit not only from fair prices, technical assistance, prompt payment and pre-harvest financing in some cases, but also from logistical support and the purchase of the harvest that others would consider discarding.
“We are extremely happy with the investment in Phoenix, it is a company that exemplifies the business models of high impact and high growth that we seek to support in the region. With this capital injection, we are confident that Phoenix Foods will consolidate its position as one of the leading marketers and exporters of fruit and vegetables in Peru, as well as solidify a high-impact supply model that dignifies the quality of life of its producers and that of their families”, said Santiago Álvarez, Partner and Investment Director of ALCP.
“We are very pleased with ALCP’s investment in Phoenix Foods. Now we can continue to advance with our plans to expand the agricultural horizon, hand in hand with our producers and growing steadily together. We will also expand our plant’s productive capacity and bring more innovation to our processes. Healthy and on-the-go food will continue to grow fast, which gives us peace of mind knowing that the market will respond adequately. We are pleased that Phoenix Foods’ and ALCP’s philosophy on how to improve producers’ incomes are aligned, and this is the foundation of our future,” said Oscar Rizo Patrón, CEO & founder of Phoenix Foods.
The resources invested by ALCP will be used to finance the company’s growth, through investment in working capital and in the strengthening of its logistic capacity, in order for the company to continue to scale, strengthen its commercial relationships and reach more producers throughout the country.