Agribusiness & Food


Ivan Saval

Managing Director, Agribusiness & Food Investment Banking

Ivan Saval is the Managing Director overseeing the capital markets and financial advisory opportunities for the Agribusiness & Food segments. Ivan is a seasoned investment banker, having worked with a wide range of agribusiness and food related enterprises for their capital and advisory needs. He has over 15 years of experience, working for firms such as JP Morgan, UBS, CIBC, BNP Paribas and INTL FCStone

Agribusiness & Food Sector Expertise

Agribusiness & Food are key sectors for National, with a team of banking professionals highly regarded for their deep industry expertise and relationships. Our investment banking activity in this sector comprises both advisory and capital markets, working with a wide range of companies along the value chain, including, but not limited to, the privately run family livestock business, the publicly traded agri-biotech enterprise, the startup ag-tech company, the multi-national grain merchandising platform, and the consumer driven branded food products.

We work with boards of directors and business owners to assist them in exercising their fiduciary responsibilities, providing unbiased guidance and excellence in transaction execution. Our knowledge in the broad array of industries that comprise food and agribusiness provides us a unique capability to position your business to the investor community.

Since launching our Agribusiness & Food sector specific effort in 2016, National has led, or participated in, several capital raise transactions, including unregistered and registered offerings of equity and debt, with placement to both retail and fundamental institutional investors.  Additionally, National has been the exclusive financial adviser for restructuring, business divestitures and buy side assignments.

Completed Transactions


Ben Klieve, CFA

Senior Equity Research Analyst, Agribusiness & Food

Ben Klieve is a Senior Equity Research Analyst covering Agribusiness. His coverage focuses on companies throughout the food chain that add value to the grower and consumer alike, with sub-sectors including agricultural biotech, biologicals, biofuels, consumer goods, distribution and production. Prior to joining National, Mr. Klieve worked as a generalist for Noble Capital Markets, covering the aerospace and defense, agribusiness and business services sectors. Mr. Klieve holds a Bachelor of Science degree from University of Wisconsin-Madison, as well as a Master of Business Administration (MBA) and Master of Finance (MSF) from University of Denver. Mr. Klieve is also a Chartered Financial Analyst (CFA).

Agribusiness & Food Sector Coverage

Agribusiness research coverage at National focuses on small and micro cap companies with exposure both to the grower and the consumer. Our grower focused coverage considers investments with exposure to agricultural biotech, biological inputs, bio-fuels and production. Our consumer focused coverage considers investments with exposure to consumer goods, packaging and distribution. We seek to enable investors to generate alpha by identifying overlooked and misunderstood investment opportunities with strategies that we believe can capture sustainable value.

AgroFresh Solutions, Inc. (AGFS)

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Arcadia Biosciences (RKDA)

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AquaBounty Technologies (AQB)

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Calyxt, Inc. (CLXT)

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Chef's Warehouse (CHEF)

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Marrone Bio Innovations (MBII)

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Bioceres Crop Solutions (BIOX)

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S&W Seed Company (SANW)

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Limoneira (LMNR)

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Yield10 Bioscience (YTEN)

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Raven Industries (RAVN)

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MGP Ingredients (MGPI)

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