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Total financial debt. (March 2024)

Financial debt by type. (March 2024)

Amortization profile. (March 2024)

Available credit lines. (March 2024)


Risk Rating

Local Rating

Debt
classification
Stock
Classification
Last
update
Report
Humphreys A+ (Stable) First class Level 4 February 2024
ICR AA- (Stable) First class Level 2 July 2024

Corporate Presentations

Title DATE PDF
Bondholders Presentations October 2022
NDR - Corporate Reorganization Proposal May 2022
Credicorp Investor Conference September 2021
Corporate Presentation – Fixed Income Conference Call April 2021
Hortifrut – LarrainVial Andean & Southern Cone Conference September 2020
Credicorp XVII Andean Investor Conference September 2019
Capital Increase Roadshow July 2019
english presentation test May 2024


Material Facts

Material Facts
New CEO Announcement - June 2024
Hortifrut S.A. Delisting - May 2024
Proposal of Final Dividend and Summons to Ordinary Shareholders' Meeting - April 2024
October 2023 Extraordinary Shareholders Meeting Agreement - Delisting and New Board of Directors
Summons to Extraordinary Shareholders' Meeting - October 2023
Summons to Extraordinary Shareholders' Meeting - June 2023
Final Dividend Distribution and Board of Directors' Election - April 2023
Proposal of Final Dividend and Summons to Ordinary Shareholders' Meeting - April 2023
Summons to Extraordinary Shareholders' Meeting - January 2023
Appointment of Nicolás Moller Opazo as Chairman of the Board of Directors - January 2023
PSP Investment Takeover Bid - December 2022
Director Position Vacancy - November 2022
Víctor Moller Schiavetti's Death - October 2022
Bondholders' Meeting Agreements - October 2022
Complements Material Facts about Covenants - September 2022
Information about Covenants as of June 2022 - September 2022
Sale of the 75% stake in fields in Olmos (Peru) to PSP - May 2022
Extraordinary Shareholders' Meeting Approved Corporate Reorganization - May 2022
Board of Directors' Chairman and Vice-Chairman and Directors' Committee Appointment - May 2022
Corporate Reorganization Proposal - May 2022
Final Dividend Distribution and Board of Directors Renewal - April 2022
Modification of Material Fact Summons to Ordinary Shareholders' Meeting
Proposal of Final Dividend and Summons to Ordinary Shareholders' Meeting - April 2022
Atlantic Blue Acquisition - October 2021
Definitive Dividend Payment - April 2021
Proposal of Final Dividend and Summons to Ordinary Shareholders´ Meeting – April 2021
Merger Materialization Hortifrut Duncan Fox - July 2020

Corporate Governance

Nicolás Moller Opazo holds a degree in business administration from Finis Terrae University and has studied at various universities in Chile and the United States, including Columbia, the University of California Davis and Stanford.

He has held various positions at Hortifrut since 2008. Between January 2010 and September 2016, he held the position of CEO and, from 2016 onwards, he served as Executive Vice President based in the United States.

He was a member of the board of directors of the Center for Growing Talent by PMA association, the Chilean Exporters Association (ASOEX), the Chilean Blueberry Committee and the Finance Committee of the USA Highbush Blueberry Council.

Additionally, Nicolás is director of Vitafoods SpA, an industry leader in value-added and frozen fruit, and Naturipe Farms LLC., a leading berry company in the United States, and president of the board of directors of the Chinese fruit company Honghe Jiayu Agriculture, all of them linked to Hortifrut.

Víctor Moller Opazo is an agricultural technician from Escuela Agrícola de Paine, with a graduate degree from Universidad Católica de Chile. He has 25 years of experience in the agricultural industry and has been a member of the Board of Directors of Hortifrut S.A. since 2008.

In 2001 he was Logistic Operations Manager at Global Berry Farms in the United States, a company that imported, distributed and sold berries on the east and west Coast of the cpuntry (today Naturipe Farms). He was also a member of the Board of Directors of Pacific Nuts Company, a grower and distributor of nuts.

Víctor created Hortifrut Comercial S.A. (Chile) in 2002, the commercial and agricultural office of BerryGood (Brazil) in 2009 and the commercial and agricultural office of Hortifrut Colombia in 2019.

He is currently CEO of IMG Family Office, an agricultural and financial investment holding company.

Andrés Solari Urquieta holds a degree of business administration from Universidad Adolfo Ibáñez, an MBA from Universidad de Los Andes/ESE and has been a director of Hortifrut S.A. since 2013.

He has 25 years of experience in the supermarket sector, starting at Santa Isabel and later at Cencosud. Since 2007 he has been CEO of Algeciras Holding, connected to the Elberg family, which participates in the real estate, financial, food and automotive sectors in America, Europe and Asia.

He currently participates on numerous company Boards of Directors. He is Vice-Chairman of banco Internacional, Grupo Patio and Hortifrut, and Director of Autosummit Chile and Peru, MundoCédito, A3 Propery Investment, Vértice, Summit Motors Peru, Algeciras Peru, BSF Peru, Alta Developers Inc. (USA), Bersummit Central Europe, Bersummit Europea Automoción and Automoción del Báltico.

Andrés Carvallo Prieto is an agricultural engineer with an MBA from Universidad Mayor. He is a founding partner and Executive Director of Exportadora Baika S.A. and has been a member of the Board of Directors of Hortifrut S.A. since 2017, and is also on the Boards of severa lof the Company’s subsidiaries.

Ulises Quevedo Berastain holds a degree in industrial engineering from Universidad de Lima and a MBA from the Kellogg School of Management at Northwestern University.

He is currently Executive Chairman of Grupo Rocío and has been a member of the Board of Directors of Hortifrut S.A. since July 2018.

Juan Luis Alemparte Rozas has a degree in industrial engineering from Pontificia Universidad Católica de Chile and has served on Hortifrut S.A.’s Board since August 2018.

He began his career as an analyst at Banchile-Citi GM, with 12 years of experience in the financial and agricultural industry, at various positions in investment banking, private equity and other operational and financial departments.

Juan Luis is CEO of Grupo Rocío as of mid-2019.

Fernando Lopes Furtini has a bachelor’s degree in Business Administration from Mackenzie University in Sao Paulo, Brazil and holds an MBA from the Desautels Faculty of Management at McGill University in Montreal, Canada. Fernando has been a Director on the board of Hortifrut S.A. since June 2023.

Fernando joined the Public Sector Pension Investment Board (PSP Investments) in 2017 and he is currently Managing Director and Head of Latin America, Natural Resources Investments.

Over the past 20 years, Fernando gained extensive experience in financial markets and the natural resources sector having worked for investment and advisory companies in the Americas.

Fernando also represents PSP Investments in boards and advisory committees in other portfolio entities in Latin America, including investments in the row crop, permanent crop and timber sectors.

Richard Wayne Toman holds a degree in Agricultural Economics from the University of Guelph (Ontario Agriculture College) and a Master of Business Administration from Harvard Business School. He has been a member of the Board of Directors of Hortifrut S.A. since October 2023 and also serves on the Board Committee.

Richard was the Executive Vice President of DOLE Asia Holdings and President of its Asia Fresh division, a fully integrated sales operation with over US$1 billion in production, procurement, shipping, sales and marketing across Asia, starting in July 2015.

Prior to joining DOLE Asia Holdings, Richard held various leadership positions at DOLE Fresh Fruit Company starting in 1981, working in multiple locations including Honduras, Costa Rica, Mexico, the Dominican Republic, the U.S., and Europe. He has extensive and successful experience in managing operations based on company-owned and grower-sourced farms, procurement, and ambitious investment projects.

Kathleen Barclay holds a Bachelor of Science in Foreign Service from Georgetown University, with a focus in international economics. In Chile, she is currently Principal of Asesorías KCB Ltda. and serves on the boards of several companies, including MetLife Seguros, Inversiones Volcán Mocho S.A., and Hortifrut. In Peru, she holds board positions at Banco Interamericano de Finanzas and San Fernando, largest producer of protein products.

With over 20 years of experience as an independent director, Barclay has participated across various industries such as finance, energy, retail, and consumer products, bringing strong expertise in corporate governance, strategy, and finance. Before 2001, she had a 23-year career with J.P. Morgan Chase, holding roles in New York, London, and Santiago.

Barclay is deeply involved in cultural and academic initiatives. She is a member of the Advisory Editorial Committee of Diario Financiero, is a member of the Advisory Board at the Centro de Estudios Públicos, and chairs the Board of Endeavor-Chile. She is also a Board member at the American Chamber of Commerce in Chile, is a member of the Council of the Americas and the US Chamber of Commerce. Additionally, she has served as a member of the advisory council to the Wildlife Conservation Society (WCS) for its Karukinka project in Chile.

Ignacio Larraín Arroyo has a degree in business administration from the Universidad de Chile and is Alternate Director of Hortifrut S.A. from June 2023.

Ignacio has 33 years of experience in the Government and the Energy, Forestry, Conglomerates and Fruit sectors, starting in the Superintendencia de Valores y Seguros. He later worked at the company Gener, Masisa, Sipsa and, after a stint at the Ministry of Foreign Affairs, in 2014 he became Finance Manager at Hortifrut from where, in 2019, he became General Manager of Grupo IMG, related to the Moller family, part of the controlling group of Hortifrut, where he currently works.

Francisca Moller Opazo is a Graphic Designer from the Universidad del Pacífico, as well as a Master in Graphic Design from the Academy of Art College, San Francisco, USA, and a Master in Marketing and Advertising from IED Barcelona, ​​Spain. He also has studies in business administration and management, and strategic marketing.

With more than 20 years of experience, he held several executive positions at Hortifrut, highlighting the areas of marketing and corporate events. Francisca created, in 2022, the natural and healthy products company KEFFI S.A. and, in 2023, the cosmetic products company MÖOX S.A.

Currently, in addition to being alternate director of the Corporate Board of Hortifrut S.A., she is alternate director of several subsidiaries within the group.

Piero Bacigalupo Gómez-Lobo has a degree in business administration from Universidad Católica de Valparaíso. With more than 25 years of experience in the financial area in Peru and Chile, he currently works as administration and finance manager of the Algeciras Holding, linked to the Elberg family, which participates in the real estate, financial, food and automotive sectors in America, Europe and Asia.

Additionally, today he holds the position of administration and finance manager of Baninter, a shareholder group of Banco Internacional and is a director at Mundocredito and Europarts, substitute director at Autosummit, and has led and leads various group projects.

María Cristina Effa Raggio is a Civil Industrial Engineer and has a Master in Engineering Sciences from Pontificia Universidad Católica de Chile. He is currently Development and Investment Manager at Torca Family Office.

María Cristina has more than 20 years of work experience. Before joining Torca, she was Director of Strategic Planning and Revenue Management at Grupo El Mercurio. Previously he held various executive positions at Latam Airlines, mainly within the strategic and planning areas.

Guillermo is a Lawyer, graduated from the Pontificia Universidad Católica del Perú in Lima, and attended the Master in Business Administration Program at Deusto University in San Sebastián, Spain.

He is a seasoned senior executive with extensive leadership experience in complex multinational environments, driving digital platforms and user-centered business initiatives to accelerate skills and people performance across global organizations. He joined the faculty of Advantere Business School in Madrid, Spain in August 2022, and balances his time advising unicorns and early stage digital platform ventures (BetterUp, Beamery, FutureFit, Emerge and Reach Capital).

Most recently, Guillermo was Boeing’s Chief Learning Officer and Senior Vice President of  Leadership Development. Before joining Boeing in February 2021, he was IBM’s Global Head of CSR and President of the IBM Foundation. He also previously held roles as IBM’s Chief Learning Officer, the first People and Talent Head (CHRO) for the newly chartered IBM Digital Business Group.

Along with his day-to-day business responsibilities, Guillermo launched the Digital Learning Consortium in 2017 and was actively advising innovation projects with top tier clients to shape the people and talent initiatives at the core of business digital reinvention, in collaboration with IBM Consulting. Guillermo also previously served as the CHRO of the InterAmerican Development Bank Group. Based in Washington D.C., he had overall responsibility for people processes and organizational development initiatives for all Bank operations across Latin America and the Caribbean.

He is a proud Latino leader and volunteers on initiatives to provide access to education and STEM skills for underserved communities. He serves on the Board of Directors of Magis Americas.

Arturo is an Agricultural Engineer from the Pontificia Universidad Católica de Valparaíso and has specialized studies in negotiation, finance and corporate governance.

Arturo has 14 years of work experience, 9 of which have been outside Chile, first as Import Manager for Origin Fruit Direct, a fresh fruit importing company based in Holland with a subsidiary office in China. He later assumed the position of Commercial Manager of Agrícola Don Ricardo, a leading Peruvian company in the production and export of fruits. He has actively participated in the creation of commercial platforms in the United States, Continental Europe and England and has been a member of union boards in Peru. In his positions he has led innovation projects, with emphasis on the digitalization of processes and management control.

Today he serves as General Manager and Co-founder of Onesta.

Mauricio Czelusniak is a mechanical engineer from the Universidade Tecnológica Federal do Paraná (Brazil), holds a Master’s degree in engineering from the Université de Technologie de Compiègne (France), and a MBA from McGill University (Canada). He has been alternate director of Hortifrut S.A. since June 2023.

He has 13 years of experience in the natural resources, oil and gas, energy, renewable energy and agriculture industries, both in operating companies and in multinational investment funds. Since 2021, he has been Senior Manager, Natural Resources at PSP Investments.

Mauricio also represents PSP Investments on other portfolio entities in Latin America, including investments in the row crop, permanent crop and timber sectors.

Marc Drouin joined PSP Investments in 2011 and is currently Senior Managing Director, Real Assets and Global Head of Natural Resources Investments. Prior to joining PSP Investments, he was head of Group Business Development, Americas, at Anglo American Plc., Vice President of Corporate Development at Alcan Inc. and held investment and merchant banking positions principally related to cross border mergers and acquisitions.

Marc’s current board positions include Mosaic Forest Management and Kaingaroa Timberlands.

He received a Bachelor of Commerce degree from McGill University and holds a Master of Business Administration from York University. He has an ICD.D designation from the Institute of Corporate Directors.

ITEM DATE PDF
Ethical Conduct Code 2024
Statutes of Hortifrut S.A. 2023
Policy of General Habituality for Operations with Related Parties 2018

Analyst Coverage

Firm Analyst Recommendation report

Investor Relations Contact

Name Phone E-MAIL
Gabriela Rojas Violic +56 9 9999 5579 grojas@hortifrut.com

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