Peruvian produce multinational Camposol has applied for a listing on the New York Stock Exchange with an initial public offering (IPO) of US$354 million. 

The Lima-headquartered company filed on Tuesday (Nov. 14) with the U.S. Securities and Exchange Commission (SEC).

BofA Merrill lynch and UBS Investment Bank are among underwriters of the IPO.

Camposol exports a range of fruit and vegetable commodities including blueberries, avocados, mangoes table grapes, tangerines and bell peppers, as well as shrimp.

During the nine months ended Sept. 30, 2017, it achieved adjusted EBITDA from continuing operations of US$79.7 million. 

"Our 20-year track record of success introducing and scaling new on-trend products in the demanding European Union and United States markets, mainly through world-class retailers such as Walmart and Costco, among others, is sustained by our recognized value proposition: high consistency, superior quality and full traceability," the company said in the SEC filing.

"Moreover, our sustainable production practices address the demand by consumers and our retail customers for socially-responsible and environmentally-friendly products."

In December last year the company announced plans to open an office in Shanghai, after Peru achieved market access in China for avocados and blueberries in 2015 and 2016 respectively.

Last month Camposol also announced it was launching a new brand called “The Berry That Cares”, which it says focuses on its commitment to the environment, its workers and customers.

In its prospectus, the company highlighted is was the largest independent producer of blueberries in Peru as well as the largest Peruvian exporter of Hass avocados to the U.S.

"We believe the strategic locations of our fields translates into more favorable prices, because we are able to produce year-round and hence supply fruits when supplies are low and prices are high in North America, Europe and China," it said.

"We also believe the location of our fields makes us less susceptible to extreme weather, due to a greenhouse effect from the Humboldt current and our proximity to the Andean mountains.

"Consequently, our fields experience a moderate dry climate and stable temperatures throughout the year. Additionally, the proximity of our fields to the Equator results in longer daylight hours, which also positively affects productivity."

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