Australian almond producer Select Harvests raises $62m from investors to reduce debt and expand factory capacity.

Australian almond producer Select Harvests has raised nearly $62 million from institutional investors and anticipates an additional $18.3 million from retail shareholders. The funds will help reduce its substantial debt, estimated at $230-$245 million for 2023-24, and enhance processing capacity at its Carina West factory. The company forecasts a profit revival with increased almond yields and stable global prices, despite logistics challenges impacting cash flow.

September 30, 2024
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