Isidoro Quiroga, the famous Chilean businessman, has made another significant commercial milestone in his ventures. The Asesorías e Inversiones Benjamín S.A founder and majority shareholder sold California-based Enphase Energy Company for US$819 million. Quiroga made an approximate profit of US$735 million.
Enphase Energy is a company specializing in the design and manufacture of domestic energy solutions through:
- Solar energy
- Domestic energy storage
- Through the web
Quiroga, for US$20, bought Enphase Energy in 2018. He, in return, took 9,523,809 million bonds. The value for each bond was US$2.10. During the recent sale, he traded 13,548,476 shares for US$60.5 a unit.
After buying Enphase Energy in 2018, Quiroga bought another 4 million bonds. They paid an average price of US$ 16 per bond. Quiroga proved he is business savvy by selling Enphase Energy almost more than ten times his US$84 million total investment in the company. However, this was not his first victory in his business and might not be the last.
Other Outstanding Commercial Ventures
Quiroga achieved globally recognized success in 2017 by selling Australis Seafoods to Joyvio, the parent company of Lenovo. Although it was not the biggest sale, it surpassed the investment by competitors like Agrosuper buy out of AquaChile at US$ 850 million. Isidoro Quiroga bought Australis Seafoods in 2003 and changed it from the core. The changes transformed it to become an international salmon exporter.
The most remarkable thing about Australis Seafoods is that Quiroga led the company through a major crisis. The Infectious Salmon Anemia virus (ISAv) outbreak in Chile affected Chilean and Canadian salmon-producing businesses leaving many almost bankrupt.
Together with his team, Quiroga came up with a counter-production model, and he successfully dealt with the crisis. The success of his solution showed when Australis Seafoods led to increases in the Chilean market. It achieved a return of 26.43% to reach $79,650, showing capacity by Quiroga to respond fast.
About Isidoro Quiroga
Quiroga studied Commercial Engineering at the University of Chile and graduated in 1974. He soon went into the business of producing and exporting oregano in the Valparaiso region. The greatest commercial success began when he introduced Kiwi fruit to the Chilean market when it was unknown after he saw it during a trip to the United States. The next step was to diversify the business, so he invested in the mining and electricity sectors. Quiroga today operates his businesses through a family office, Inversiones Benjamin.
He has invested heavily in the Chilean stock market with the money raised from his business transactions. He is a stock investor in several companies and has invested in real estate projects like Valle Escondido. Quinoa does not fear to invest internationally. He owns the Junior Investment Company of Australia. His other international investments are in oil plantation and wine production in Argentina.