BOSTON--(BUSINESS WIRE)--Solum Partners, an investment management firm focused on the agriculture and food production industry, today announced that it has purchased a majority stake in Monte Vista Farming Company, an almond huller/sheller and processor located in California, as its second investment since spinning out of Harvard Management Company in 2020.
Over the last decade, demand for almonds has grown globally, driven by their health benefits and their use as an ingredient in a growing number of foods. As a result, the production of almonds has also increased, particularly in California, which currently produces 80% of the world’s almond supply.
Monte Vista Farming Company and its independent growers sit at the heart of this growth, processing and distributing almonds across more than 20 countries worldwide annually. The organization’s unique approach in marketing and maintaining its almond supply has contributed to the trust that growers have had in Monte Vista for over 30 years.
As part of the transaction, Jonathan Hoff, CEO of Monte Vista, will continue in his role, and the Hoff family will continue as investors. The transaction will provide capital for Monte Vista to focus on future expansion and investment in the almond industry and strengthen its balance sheet.
“Monte Vista is a top processor with a track record of growth well above others in the California almond industry,” said Daniel Sachs, Managing Director at Solum. “We believe that with this partnership, Monte Vista’s growth will continue, driven in large part by its differentiated offering, which has earned it the loyalty of both almond growers and buyers. We share a long-term vision with Jonathan to build a larger almond platform; we believe in the long-term sustainability of the business.”
Jonathan Hoff, CEO of Monte Vista, added: “We are thrilled to partner with Solum as we enter this next chapter of our growth. Their experience and knowledge of food and agriculture will allow Monte Vista to continue to invest in state of the art technology and to create an extremely efficient facility that will benefit our growers as we further scale the business.”
About Solum Partners
Solum Partners invests in the agriculture and food production industry and manages approximately $1.5 billion of assets around the world. The firm utilizes its hands-on approach and industry knowledge to enhance the value of its investments and deliver attractive risk-adjusted returns for investors. The firm's strategy is driven by a focus on strong partnerships, operational excellence, and continuous improvement and is underpinned by a comprehensive approach to ESG. Since spinning out from Harvard Management Company, Inc. in October 2020, Solum continues to widen its investments across several key verticals, including a specialty coffee platform and now Monte Vista. For further information, please see www.solumpartners.com.
About Monte Vista
Monte Vista is a high-quality almond huller/sheller and processor, founded in 1985. Monte Vista’s almonds are sold in more than 20 countries worldwide and are packaged and marketed under the California Royale brand. Processing 50 million pounds and hulling 30 million pounds of almonds in 2020, Monte Vista has made substantial recent investments in top-of-the-line equipment and automation, which provide capacity for material future expansion. Monte Vista offers multiple selling options for growers, and pioneered the Grower Select Marketing System, which allows growers to participate in the marketing of their crop and offers customers full traceability. For further information, please see www.montevistafarming.com.
