Grower of the week: SPMS, Morocco

SPMS was founded by samir jbali and Samir Belhouari , two Moroccan agronomists with a shared entrepreneurial vision, and the company has since grown into a leading agricultural player.

Headquartered in Agadir, Morocco, it has specialized in cherry tomato production since 1992 and then expanded into red fruits (raspberries, blueberries and blackberries) in 2014 through a partnership with a US-based group, a leading global seller of fresh berries. The company currently manages a planted area of 101 hectares and employs over 2,000 people, mostly farm workers that it trains in modern agricultural practices.

SPMS is a high-performing grower, achieving some of the highest yields in the region. It is constantly seeking new berry varieties and optimizing processes to enhance product quality and yield, while minimizing its environmental impact. This includes the use of dual-irrigation systems and desalinated water for farming to address water scarcity issues, digital solutions to monitor temperature, humidity and other parameters in its greenhouses, and following best-in-class prevention measures against biological threats.

SPMS’s commitment to supporting local communities is seen through its vibrant Corporate Social Responsibility programme. In addition to providing employment and training opportunities, the company actively undertakes various initiatives to uplift the surrounding villages, such as supplying drinking water or rehabilitating local schools.

Vantage Capital , Africa’s largest mezzanine fund manager, announced yesterday that it closed a €14 million mezzanine investment in Société de Production Maraîchère Samir S.A. (“SPMS”) to part-fund the company’s investment programme.

SPMS has ambitions to expand further and will utilise Vantage Capital’s investment to finance its development strategy and triple its cultivated area to 300+ hectares.

Mr. Samir Jbali, CEO of SPMS, commented, “We are very pleased to have the support of Vantage Capital. This transaction marks a significant milestone for our company and will enable us to execute our long-term strategic vision of expanding our market presence.”

Mr. Luc Albinski, Executive Chairman at Vantage Capital, added, “We are proud to support SPMS in its next phase of growth. The agricultural sector is very dynamic in Morocco and SPMS has consistently demonstrated strong leadership. This transaction represents our fourth deal in the country, and we are thrilled to provide a tailored mezzanine solution to this fast-growing management-owned business.”

Mr. Driss Benabdeslam, Partner at Vantage Capital, concluded, “Investing in SPMS reflects our confidence in management’s strategic vision and operational excellence within the agricultural industry. We welcome the opportunity to partner with a company that continues to innovate and lead in the cultivation of high-quality produce. We are confident that this transaction will unlock significant value for all stakeholders.”