Madrid, March 9, 2020.- COFIDES will support the consolidation of the AM FRESH Group company in Australia through a co-investment loan of 2.8 million euros from the FIEX fund.

This funding will be used for a strategic project that facilitates the acquisition of 67% of an Australian company with which AM FRESH will consolidate the portfolio of table grape varieties that it owns globally. This investment constitutes a milestone in the amplification of the Group's presence, currently a leader in the number of hectares of its planted varieties with Australian farmers, and in the consolidation of its presence in Asian markets.

AM FRESH Group, a global company with revenues that exceed 1 billion euros, is a clear leader in the agribusiness sector in Spain and is one of the 10 largest food companies in the country. AM FRESH has long-term contracts, between 5 and 10 years, to exclusively supply all of the citrus, grape and flower categories to TESCO, Marks & Spencer and Coop UK, in addition to El Corte Inglés, Eroski and EDEKA. With Walmart, the world's largest retailer, AM FRESH has established a unique innovation and farming model in the table grape category with a potential of up to USD 1 billion. The consolidation of the company in Australia facilitated by COFIDES will allow the Group to solidify its presence with patented varieties for production, destined for Asian markets.

In a rapidly growing sector, worldwide table grape production ranks seventh in fruit production. The Asian market is growing significantly not only because of population growth, but also as a result of the increase in the consumption of fresh produce per capita, as well as a significant preference for more sophisticated varieties: seedless grapes, novel organoleptic profiles, fruit with naturally improved nutritional profiles, among others. The AM FRESH Group portfolio and its consolidation in Australia will allow it to capitalise on this trend.

The COFIDES chairman, José Luis Curbelo, said that "it is important to support innovative companies that provide added value and differentiated products, allowing them to be more competitive and to grow in a global economy".

For his part, the CEO of AM FRESH Group, Álvaro Muñoz, said that in the Agribusiness and Agriscience industry, new projects must be focused on adding value to the sector. "One of our main points of differentiation is the ability to offer end-to-end operations, which also allow distribution chains to be participants in the innovation pipeline and in the selection of the varieties; the strategic purchase in Australia gives us access to the geographic expansion we need to offer this model in the Asian region".

This project affects the achievement of Sustainable Development Goal 2 (Zero Hunger), ensuring the sustainability of food production systems through resilient agricultural practices to increase productivity and production.

About AM FRESH Group

AM FRESH Group is a global fresh produce company focused on leading innovation and varietal development through biotechnology, large-scale agriculture and the global marketing of citrus fruits, table grapes, tropical fruits and superfoods, fresh products and juices, and flowers. With more than 85 years of experience, AM FRESH Group is a private company, present in more than 50 countries with a staff of 5,700 employees who are passionate and committed to innovation, which functions as a vertically integrated model to serve the main distributors and retailers around the world. For more information about AM FRESH Group, go to www.amfresh.com.

About COFIDES

COFIDES is a state-owned company which has been offering financial support to Spanish companies investing abroad since 1988. It is accredited with the EU to manage Community budgets, allowing it to structure transactions with a high impact on development. It is also accredited with the UN’s Green Climate Fund and can structure operations on climate change mitigation and adaptation with the GCF. It is the exclusive manager of FIEX and FONPYME funds on behalf of the Secretariat of State for Trade attached to the Ministry of Industry, Trade and Tourism and supports AECID in managing FONPRODE funds. Shareholders include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and CAF-Development Bank of Latin America.