IDB Invest, IFC, and Rabobank Support San Miguel’s Transition Toward Higher-value Agribusiness in Argentina and Uruguay

WASHINGTON - IDB Invest, IFC, and Rabobank have approved financing of up to $81 million for San Miguel, the world's largest lemon processor, to support its transition toward the production of higher-value industrial products in Argentina and Uruguay.

The operation will finance the company's investment program for the 2025-2027 period and the refinancing of existing liabilities, as part of its business transformation strategy.

The project will help consolidate San Miguel's transition toward a higher-value-added industrial production model by strengthening lemon processing for the manufacture of high-value natural ingredients such as essential oils, concentrated juice, and other derivatives.

This strategy will enhance the company's competitiveness, improve operational stability, and increase the resilience of its business model through deeper integration into the agribusiness value chain. The operation will also strengthen local value chains and expand opportunities for domestic suppliers, including small and medium-sized agricultural producers. By promoting industrial modernization, the project will support productive employment and economic growth in regions linked to agribusiness.

The financing package from IDB Invest and IFC includes two A loans of $20.25 million each, while Rabobank is providing two B loans of up to $20.25 million each.

IDB Invest and IFC will also support San Miguel through the implementation of international standards and improvements in corporate governance. In addition, IDB Invest is complementing the transaction with technical advisory services aimed at strengthening talent management and workforce development practices, including initiatives to promote women's leadership within the organization and its supply chain. These actions are intended to reinforce the company's long-term operational sustainability and business resilience.

About IDB Invest

IDB Invest, a member of the IDB Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $22 billion in assets under management and more than 400 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients across a range of sectors. Visit our website at https://www.idbinvest.org.

About IFC

IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2025, IFC committed a record $71.7 billion to private companies and financial institutions in developing countries, leveraging private-sector solutions and mobilizing private capital to help create a world free of poverty on a livable planet. For more information, visit www.ifc.org.

About San Miguel

San Miguel is an Argentine company specializing in industrial lemon processing and the production of natural citrus-based ingredients. With industrial operations in Argentina, Uruguay, and South Africa, it serves more than 100 international customers in over 32 countries across the food, beverage, fragrance, flavor, and natural ingredients industries. For more information, visit www.sanmiguelglobal.com.

About Rabobank

Founded in the Netherlands, Coöperatieve Rabobank U.A. ("Rabobank") is a leading global bank with more than 1,000 offices in 38 countries. Rabobank operates under cooperative principles and has a strong agricultural heritage, backed by 125 years of experience financing agribusiness through long-term client relationships. As a cooperative bank, Rabobank seeks to generate a positive impact on society by promoting sustainable and inclusive growth. Its mission, "Growing a Better World Together," reflects its ambition to contribute to the well-being and prosperity of communities while strengthening its global leadership in the food and agribusiness ecosystem and supporting the transition toward more sustainable food systems. Rabobank has maintained a Representative Office in Argentina since 1993, building a strong market presence and developing strategic, long-term relationships across the agribusiness value chain.