Press release
Vinci Partners Impact and Return Strategy Announces Investment in Verdfrut
RIO DE JANEIRO, Brazil, Nov. 11, 2021 (GLOBE NEWSWIRE) -- Vinci Partners Investments Ltd. (NASDAQ: VINP) (“Vinci Partners”, “we”, “us” or “our”), the
About this update from Vinci Compass Investments Ltd.
[{"type":"text","content":"RIO DE JANEIRO, Brazil, Nov. 11, 2021 (GLOBE NEWSWIRE) -- Vinci Partners Investments Ltd. (NASDAQ: VINP) (“Vinci Partners”, “we”, “us” or “our”), the controlling company of a leading alternative investment platform in Brazil, announced today that “Vinci Impacto e Retorno IV”, or “VIR IV” (“the Fund”), the Impact family of funds managed by Vinci Partners’ Private Equity strategy, closed an acquisition equivalent to a 34.0% stake in Verdfrut (“the Company”), a Brazilian SME Fruits & Vegetables (F&V) retailer and B2B Distribution operation (DC). VIR IV has a unique strategy in Brazil, with a dual mandate to generate favorable market returns as well as impact, through the acquisition of minority holdings in small-and-medium sized Brazilian enterprises, that exhibit growth potential and clear measurable environmental, social and governance, or ESG, goals. This transaction marks VIR IV’s fourth investment, resulting in 33.5% gross allocation of the Fund’s R$1 billion in total capital commitments. Founded in 2002 in Vitoria de Santo Antao, Pernambuco, Verdfrut is a family-owned business with eighteen retail units within two states of the Northeast region of Brazil and a B2B DC operation. The Company started its activities in 1995, and by 2002 its founders opened the first F&V retail unit in Recife, the capital of Pernambuco. Over the last 19 years the business has been through significant expansion and currently has revenues of over R$200 million (US$38 million1). From VIR IV’s investment contribution, we expect to fund the opening of new units in the Northeast region, expand the Company’s DC structure and invest in IT. Additionally, VIR IV’s investment seeks to create a positive impact in the Northeast region on Brazil, such as the expansion of Verdfrut’s actions related to economic stability among its small producers supply chain, by improving its partnership conditions and actively working for their operations development. José Pano, partner and head of the VIR strategy for Vinci Partners, said, “We are excited to collaborate with Verdfrut’s founders and management team, supporting them in the expansion of a company with a proven and successful business model and predictable growth. The F&V Brazilian market has a relevant size, high-buying frequency, and had shown resilience over the years. The sector is influenced by several growth...