January 8, 2018

ING, a global financial institution with more than 52,000 employees and banking services for customers in over 40 countries, today announced the appointment of Deborah Perkins as global head of its new Food & Agribusiness division.

Perkins, who will be based in Amsterdam, has been charged with leading the growth and further development of the business in Europe and the Americas, and guiding its expansion into Asia. Previously, Perkins had been managing director and head of Rabobank’s Dallas Corporate Banking Office, as well as regional sector head of dairy for North America. Before this, for nearly a decade, Perkins directed the efforts of Rabobank’s Food & Agribusiness Research teams in the Americas, Australia, and New Zealand.

GAI News caught up with Perkins as she was getting ready to make the move to Amsterdam.

• What indicators in the global ag marketplace led ING to create a dedicated food and agribusiness division?

ING has identified food and agribusiness as a growth sector and would like to grow their market share of this business globally. Understanding the seasonality and cyclicality that exists in many agribusiness sectors is essential to be able to determine the appropriate capital structure for companies to survive in the long term, and a dedicated team will be well positioned to do this.

Food companies are dealing with changing consumer preferences and new marketing channels which are seeing them reassess their product offering and can result in changes to their supply chain. By strengthening our sector expertise and research coverage, ING will be able to put our knowledge to work for our clients and help them be successful in an increasingly competitive market.

• How will your focus on sustainability and innovation, and experience in the ag sector, guide the investment mission and structure of this new division?

During my career I have seen sustainability become an increasingly important part of food companies’ investment strategy. ING already has a focus on Sustainable Finance initiatives taking a more pro-active and positive approach to sustainability. The Food & Agri team will work with our sustainable finance product partners to help our clients achieve their sustainability goals, particularly in the areas of renewable energy, natural resources, waste management, and water.

Innovation is essential not only to enable us to feed the growing world population but also for companies to meet the changing consumer preferences. We see developments resulting in enhanced and more efficient production techniques, new products with new functionality and packaging, and new business models that meet the needs of the future. Some of the innovative trends that the team will be following include vertical farming, alternative protein products, packaging that significantly extends the shelf life of products, and agricultural technology companies with monetizable value propositions. The team will be well positioned to put companies within the value chain in contact with one another and provide financing for entities with sufficient scale.

• Are there certain agri-food channels that ING has targeted as high growth opportunities?

We will be covering the entire value chain with a particular focus on crop protection, animal protein, dairy, fruit vegetables and nuts, consumer foods, beverages, and food distribution. Historically ING has focused on companies with an export focus and so there will be an opportunity to grow the business by supporting companies focused on the domestic market.

• What market conditions will be catalysts to growing and expanding the business in Europe? Asia?

Two of the key trends that will create opportunities to grow the business in Europe and Asia are consolidation and globalization. The Food & Agribusiness market in these regions is still relatively fragmented and as consolidation takes place there will be opportunities for ING to not only advise the various parties but also to provide underwriting for the acquisition. As companies look for cross-border investment opportunities, the team will be well placed to leverage ING’s global network and assist in identifying opportunities.  

• What opportunities will this expansion afford to investors in the ag sector?

Investors in the agribusiness sector will benefit from having knowledgeable, proactive bankers who can leverage their understanding of industry dynamics and customer strategies to assist them in identifying opportunities. ING has an extensive global network and the collaboration across regions and between product groups also will benefit investors in the space. For example, the U.S. team is currently sharing their knowledge of the seafood industry with their colleagues in Europe to appropriately structure a deal for a company looking to make an investment in South America.

By Michelle Pelletier Marshall, GAI Media

~ Michelle Pelletier Marshall is managing editor for Global AgInvesting’s quarterly GAI Gazette magazine and an occasional contributor to GAI News. She can be reached at mmarshall@globalaginvesting.com.