The Public Sector Pension Investment Board is entering a strategic alliance with a produce vendor.
According to the agreement, PSP Investments will manage the acquisition of Spanish citrus orchards while Citri & Co. will operate and manage the farmland, packing, distribution and sale of crops.
According to a press release, the alliance was brokered by PSP Investments as part of a strategy to add agricultural assets with high growth potential to its portfolio. “Citri & Co represents an ideal partner for PSP Investments in the European fresh produce sector, particularly given Spain’s status as the leading global producer and exporter of citrus fruit,” said Marc Drouin, senior managing director of real assets and global head of natural resources at PSP Investments.
In other news, the Ontario Teachers’ Pension Plan is investing in Orva, a full-service e-commerce platform specializing in the sale of footwear, apparel, accessories and home products. The brand, which originally operated as a chain of department stores, entered the online retail market in the 2000s.
The investment is the Ontario Teachers’ first in the growing e-commerce facilitator space. While the terms of the transaction weren’t disclosed, a press release noted the move is related to a strategy seeking to capitalize major retailing trends.
“We are particularly attracted to Orva given its track record of using data and merchandising expertise to drive incremental online sales for its top-tier brand partners,” said Kevin Mansfield, senior managing director for consumer and private capital at Ontario Teachers’.