Sociedad Agricola Viru

Company Description

Sociedad Agricola Viru S.A. (“Viru” or the “Company”) is one of Peru’s leading agro-exporting companies that ranks within the country’s top three exporters of processed asparagus, artichokes and peppers. The Company began operations in 1994 as a processor of asparagus and has achieved greater product diversification (artichokes, peppers, sauces lines) during its 20 years of business operations. It conducts its agricultural operations on approximately 6,190 hectares (ha) of land (owned and leased) certified under Globalgap, employs approximately 7,500 people, and provides technical assistance to approximately 300 small farmers in its supply chain to ensure high quality food products.

Project Objective and Description

IIC proposes to provide a senior secured corporate loan to Viru to finance the deployment of new technologies to expand its vegetable processing export business and conduct its operations in a socially inclusive and environmentally sustainable way. These actions are expected to strengthen Viru’s competitiveness. The investment plan includes: i) increase agricultural output by developing additional asparagus, avocado and other plantations; ii) increase the application of technologies to conserve water on irrigated land, improve food quality, and reduce production costs; iii) improve its financial structure by refinancing an existing loan; and iv) finance working capital  and a gender equality certification (collectively, the “Project”).