The investment marks Spice’s first since revising its investment strategy in July 2016 to focus on direct investments.
Having reduced its debt burden by divesting nearly 50% of Glencore Agri last year, the Swiss commodities giant is looking to expand into the US agri sector.
The investment in the jointly owned Ghana-based dairy company will be used to expand factory production
The Beijing-based firm will gain $730m from the sale.
The investment by the Danish Agribusiness Fund will allow Coexca to double pork production and construct a new pig farm to help meet both domestic and export pork demand.
The Church of England’s timber portfolio delivered a 24.3% return compared with the fund’s 17.1% total return.
The investment from the Swiss fund will be spread across Stafford International Timberland Fund VIII, co-investments and its first ag separate account.
Neil Woods, portfolio manager for timber & agri at NZ Super – a significant investor in New Zealand’s agricultural sector – talks about the fund’s plans to diversify by investing outside New Zealand and beyond dairy.
A Cargill spokeswoman called the deal a “significant development.”
The poultry producer’s Western Australian expansion will involve relocating existing facilities and selling 40 hectares of land in Wanneroo.