Ciranut CJSC

Project Details

PROJECT SIZE
USD 900,000
INDUSTRY
Agriculture
JOBS CREATED
3
PROJECT TYPE
Project Consultancy

Description

Armenia offers highly fertile soil, clean water and a favorable climate to produce certain crops of excellent taste and high quality. Such produce have strong export potential due to a positive brand recognition of Armenian food products and beverages, especially in CIS countries. In January 2020, Riviera Capital CJSC acted as a consultant to the acquirer of Ciranut CJSC, an agro asset company owning an 80 hectare apricot orchard near Aragatsavan village. The management of the orchard is outsourced to EverGreen Agro Asset Management LLC, a firm specialized in the management of agricultural assets in Armenia. 3 direct staff will be employed, and the company will be engaging a large number of seasonal workers for maintenance and harvest. The foreign direct investment of more than USD 900,000, combined with Riviera Capital’s monitoring process and EverGreen LLC's technical expertise and operations management, will allow the business to increase the orchard's yields and profitability over the next few years.