In a strategic move aimed at further diversifying its portfolio as well as supporting sustainable agriculture and local communities, Foursan Group, a leading Middle Eastern private equity firm, announced that its third fund, FCP II, has concluded its the seventh investment by acquiring a 33% stake in Medjool Village.
Founded in 2012, Medjool Village is Jordan’s largest vertically-integrated grower, packer and exporter of Medjool dates. By following best-in-class sustainable practices, Medjool Village has established itself as a leading global premium date supplier, exporting Medjool dates to the UK, Europe, the Middle East, South Asia and South East Asia. Medjool Village’s strong commitment to its workforce, especially female employees, water and energy conservation and community development, aligns very well with Foursan’s core values.
Shahm Al-Wir, a Partner at Foursan, commented on the transaction: “We are delighted to partner with Medjool Village and build on the company’s market-leading position. Our investment is not just a testament to the company’s superior products and operations but also to the potential we see in Jordan’s agricultural sector. We are particularly fortunate to partner with like-minded shareholders who prioritize quality and sustainability and look forward to helping the company expand its operations and further grow its global reach and footprint, ultimately contributing to economic growth and job creation in Jordan.”
Jude Nabulsi, Co-Founder and General Manager of Medjool Village expressed his enthusiasm for the partnership, saying, “We are thrilled to embark on this journey with Foursan. Their investment is a vote of confidence in our hard work and the quality of Jordan’s Medjool dates. We are especially excited about the opportunities this partnership opens up for us, including the development of a new date farm at the historic baptism site. This project is not just about expanding our production; it’s a symbol of our continued commitment to excellence and sustainability. Together, we are set to achieve significant milestones that will benefit our community, our country, and Medjool date lovers worldwide”.
Foursan owns 33% of the company’s shares and holds two of its five board seats.
This is the seventh investment by FCP II following its investment in Polymedic, a prominent Moroccan generic pharmaceuticals manufacturer; Sands, one of Jordan’s largest K-12 schools; Jo Academy, Jordan’s No.1 online education platform; MenaITech, a leading regional HR management system developer; Baida Pack, a leading Jordanian packaging company; and New Vision, the official agent and distributor of LG Electronics in Jordan.
