TEL AVIV, Israel, and HERNANDARIAS, Paraguay, Oct. 15, 2020 /PRNewswire/ -- ADAMA Ltd. (SZSE 000553) announced today that it has acquired a majority stake in its key crop protection distributor in Paraguay, FNV S.A., strengthening the Company's commercial presence in the large Latin-America market.
Founded in 2015, FNV has become a highly reputable and rapidly growing distributor of crop protection, fertilizers, seeds and bio-stimulants in Paraguay, the world's 6th largest producer and 4th largest exporter of soy. FNV's strong and loyal customer base among large, industrial farmers will provide ADAMA with direct market access, ensuring the sustainability and growth of ADAMA's key distribution platform.
FNV already serves as the Company's key distributor in the country for some of its flagship products including CRONNOS®, the triple-action fungicide for Asian soybean rust, as well as ADAMA's recently launched self-produced Prothioconazole-based mixture ARMERO™. The acquisition will allow the Company to introduce its vast product portfolio in the country, and capture the full end-to-end value chain, from manufacturing to the end customers.
Carlos Danilowicz, ADAMA VP Latin America said, "Based on our strong relationship with FNV as a valued distributor, and its excellent performance over the past several years, we have decided to take this significant step forward, to expand our presence in the Paraguayan market. We look forward to our continued collaboration with the highly experienced FNV management and dedicated sales team throughout Paraguay."
"We are excited to deepen our relationship with ADAMA," said Vinicius Martins, CEO of FNV. "Our customers rely on us to continue providing the high quality ADAMA products that they know and use extensively, and we are thrilled to leverage our greater access to ADAMA offerings and services to introduce new solutions to help Paraguayan growers keep their plants safe and healthy."
ADAMA Ltd. is a global leader in crop protection, providing solutions to farmers across the world to combat weeds, insects and disease. ADAMA has one of the widest and most diverse portfolios of active ingredients in the world, state-of-the art R&D, manufacturing and formulation facilities, together with a culture that empowers our people in markets around the world to listen to farmers and ideate from the field. This uniquely positions ADAMA to offer a vast array of distinctive mixtures, formulations and high-quality differentiated products, delivering solutions that meet local farmer and customer needs in over 100 countries globally. For more information, visit us at www.ADAMA.com and follow us on Twitter® at @ADAMAAgri.
FNV S.A. is a Paraguayan company focused on the import and distribution of agricultural products. The company distributes products in Paraguay on behalf of two large multinationals: ADAMA in crop protection, nutrition and biostimulants, and KWS in corn seeds. FNV offers differentiated solutions to help farmers obtain higher yields and increased profit. The company stays close to the farmer, supporting them directly and through its commercial partners, cooperatives and resellers, with whom FNV has developed strong and trusting relationships. The company is headquartered in Hernandarias, Alto Paraná, and has branches in Santa Rita and San Alberto, with sales representatives and development teams throughout the agricultural regions of Paraguay.