Finka, a Queretaro-based owner of advanced greenhouses that pioneered Queretaro’s original Agropark, announced a strategic investment from Equilibrium Capital Group, a leading controlled environment foods investor based in the U.S.
Finka, which has managed multiple largescale greenhouses in the Queretaro-region under the United Farms banner for more than ten years, shared that Equilibrium’s investment will be used to break ground on a 22 hectare expansion, which is in addition to the company’s existing 30 hectare in operation. The 80 hectare expansion project will include The Center for Controlled Environment Technology Transfer and Training to train and develop the next generation of talent needed for Finka’s growth.
“We see significant opportunities for both expansion and consolidation in the Mexican greenhouse industry,” said Mauricio Revah, CEO of Finka. “Building on our experiences with the first Agropark, Finka´s expansion will give us the scale and training facilities needed to build a leading Mexican greenhouse platform. Equilibrium is the most experienced North American greenhouse investor and gives us the cross-border industry leverage and experienced capital partner we need.”
For Equilibrium, which is the largest vegetable greenhouse owner in the U.S., the investment represents Equilibrium’s first non-U.S. investment and an extension of its strategy of driving growth with market leading platforms in the greenhouse and the controlled environment foods sectors.
“Finka was instrumental in the development of the Agropark model and is an example of Equilibrium’s commitment to supporting market leaders,” said Dave Chen, Equilibrium’s CEO. “Mexico is a critical part of the North American food system and this was a great opportunity to accelerate that growth of Finka as a leader in Mexican greenhouse agriculture. We believe it will drive synergies across our portfolio platforms, including in the U.S.”
Finka indicated that preparations for the first phase of the 80 hectare expansion are already underway and that the first phase may be ready for planting as early as 2021.
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