News
In one of the most tense days in the city, the Victoria Capital fund, which owns 74% of Los Grobo, announced that it injected US $ 100 million. The news was a balm in a day of nerves. Victoria Capital, made up of foreign investors who have as partners in Los Grobo the University of Texas and the bottom of the government of the Netherlands, had joined Los Grobo in 2016, "when Argentina was Disneyland," said its president Carlos García Clarín . This capitalization does not reduce the shareholding of Gustavo Grobocopatel and his sister Matilde who retain 26% in the company.
The capital injection abruptly reduces Los Grobo's debt, which was US $ 232 million, and makes it grow in its ability to reach producers and in its business area of agrochemicals and crop protection, where it leads with Agrofina. The firm invoices US $ 650 million this year and cultivates some 180,000 hectares in partnership with producers but 43% of its income comes from Agrofina.
According to the president of the business group, Gustavo Grobocopatel, of those US $ 100 million, more than US $ 42 million will be invested in "information and management technologies and research and development". According to García, "considering the high uncertainty and the strong reduction in capital flows, this capitalization is a powerful signal regarding the confidence in the future of the Grobo," he said.
The group's CEO, former Newsan Jorge Arpi, said that they will open more branches and plan improvements at the Agrofina plant located in the Zárate province of Buenos Aires.
Victoria Capital was able to invest in Argentina in other companies such as Peñaflor and Zucamor. As a fund, they are usually around 7 years in companies, although they have been 13 years, for example, in Zucamor. At present, they also have Los Grobo, a seed company that exports varieties to the United States. "It is not easy to make decisions in these turbulent scenarios. But the company's investments are beyond policy, "said Grobocopatel.
Automatic translation from spanish.
