Global fruit supplier Camposol withdraws $450M US IPO

Camposol Holding (CMSL), a Latin American supplier of fresh produce, has withdrawn its plans for a $450M initial public offering in the US.

The company filed in June 2021 to raise up to $450M, but didn’t disclose additional terms. Camposol planned to list its shares on NYSE under the symbol CMSL. It also expected to list shares on the Lima exchange.

The vertically integrated food company, which is incorporated in Cyprus, supplies fruits and vegetables to food retailers in over 40 countries, including chains such as Costco, Walmart and Publix. The company’s top crops are blueberries and avocados. Most of its fields are located in Peru, Chile, Columbia and Uruguay.

For the year 2020, Camposol reported net income of $30M on revenue of $343M.

For a more in-depth looks at Camposol, read SA contributor Donovan Jones’s “Camposol Holding Begins Second US IPO Push”.

Source : https://seekingalpha.com/news/3813388-global-fruit-supplier-camposol-withdraws-450m-us-ipo

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