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Jordan’s Foursan acquires 33% stake in dates exporter

After its stake acquisition, Foursan will hold two of five board seats at date supplier and exporter Medjool Village Unsplash/VD Photography
After its stake acquisition, Foursan will hold two of five board seats at date supplier and exporter Medjool Village

A fund managed by Jordanian private equity company Foursan Group has acquired a minority stake in Medjool Village, a local producer and exporter of Medjool dates.

Foursan Capital Partners (FCP) II fund acquired 33 percent in Medjool Village, which is the fund’s seventh investment. The value of the deal was not disclosed.

Founded in 2012, Medjool Village is a premium date supplier and exports to the UK, Europe, the Middle East, south and south east Asia. 

The stake acquisition will allow Foursan to hold two of five board seats in Medjool Village.

FCP’s previous investments include Polymedic, a Moroccan generic pharmaceuticals manufacturer; Sands, one of Jordan’s largest K-12 schools; Jo Academy, an online education platform; MenaITech, a regional HR management system developer; Baida Pack, a Jordanian packaging company; and New Vision, the official agent and distributor of LG Electronics in Jordan.

The dates market is estimated to be worth $15 billion in 2023 and is expected to reach $17.60 billion by 2028, growing at a compound annual growth rate of 3.3 between 2023 and 2028, according to research by Mordor Intelligence. 

One of the oldest fruits cultured in the Arabian region, the consumption of dates in other parts of the world has been increasing due to the emerging trend of healthy snacking. 

Ajwa dates are widely considered among the finest in the world, due to their high nutritional value and significant health benefits, and a rich source of fibre, protein antioxidants and other nutritious factors

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