BOSTON, June 29,
2023 /PRNewswire/ - Manulife Investment Management
has announced a minority partnership with Parreira Almond Holding
Company, LLC (PAHC), a family-owned almond hulling, shelling,
processing, and marketing company, on behalf of its clients. The
minority investment will position PAHC and its wholly owned
subsidiaries, RPAC, LLC (RPAC) and Parreira Almond Processing
Company, LLC (PPAC) for future growth as well as continue to
provide a consistent volume of high-quality California-grown and U.S.-grown almonds
through both investments in the existing operations and from
further acquisitions.
"We are thrilled to partner with the Parreira family who have
been in the almond processing business, a farmland plus investment,
for more than 50 years. They understand the complexities of
agriculture and take a long-term view to growing, processing and
marketing almonds," said Oliver
Williams, global head of agricultural investments, Manulife
Investment Management. "We also believe this investment will bring
additional risk mitigation to our overall agricultural platform on
behalf of our investors."
Farmland plus refers to investments in companies and assets that
combine farm production with processing and marketing, and
substantially expands the range of investment options beyond pure
farmland investments. These investments are intended to mitigate
risk and potentially enhance return of a permanent cropland
portfolio and may bring additional value capture, increased
revenues and returns, enhanced diversification, and access to
various end markets and a reduction in price volatility.
Paul Parreira, PAHC's managing
partner added, "We are excited by this investment and partnership,
and we look forward to growing the business together and continuing
to supply our customers with high-quality almonds for generations
to come."
Manulife Investment Management is the largest manager of natural
capital in the world.1 It manages approximately 400,000
acres of prime farmland in major agricultural regions of
the United States and in
Canada, Chile, and Australia as part of its comprehensive private
markets strategies. Its entire U.S. agriculture platform is
certified to the Leading Harvest Farmland Management Standard
demonstrating a commitment to sustainable practices, robust
management, and continuous improvement. It also oversees
approximately 6 million acres of timberland across the United States, Canada, New
Zealand, Australia,
Brazil, and Chile and 100% of those forests are certified
under either the Sustainable Forestry Initiative® (SFI®) or the
Forest Stewardship Council® (FSC®).
1. IPE research as of
2/5/2023. Ranking is based on total Natural Capital AUM, which
includes forestry/timberland and agriculture/farmland AUM. Firms
were asked to provide AUM and the as of dates vary from 12/31/2021
to 12/31/2022.
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About Manulife Investment Management
Manulife Investment Management is the global brand for the
global wealth and asset management segment of Manulife Financial
Corporation. We draw on more than a century of financial
stewardship and the full resources of our parent company to serve
individuals, institutions, and retirement plan members worldwide.
Headquartered in Toronto, our
leading capabilities in public and private markets are strengthened
by an investment footprint that spans 19 geographies. We complement
these capabilities by providing access to a network of unaffiliated
asset managers from around the world. We're committed to investing
responsibly across our businesses. We develop innovative global
frameworks for sustainable investing, collaboratively engage with
companies in our securities portfolios, and maintain a high
standard of stewardship where we own and operate assets, and we
believe in supporting financial well-being through our workplace
retirement plans. Today, plan sponsors around the world rely on our
retirement plan administration and investment expertise to help
their employees plan for, save for, and live a better retirement.
Not all offerings are available in all jurisdictions. For
additional information, please visit manulifeim.com.
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SOURCE Manulife Investment Management