TEL AVIV, Israel and LIMA, Peru, Oct. 30, 2019 /PRNewswire/ -- ADAMA Ltd. (SZSE 000553) today announced that it will be acquiring Peruvian crop protection company AgroKlinge.
Established almost eight decades ago, AgroKlinge has become one of Peru's leading domestic crop protection and plant nutrition companies, with a robust product offering that includes a wide portfolio of crop protection, biopesticide and nutrition products. Over the decades, AgroKlinge has built a strong brand and reputation in the $240 million Peruvian crop protection market, bringing it a large customer base throughout the country, with a special emphasis on large, industrial farmers.
While the Peruvian crop protection market is one of the most advanced in the region, only a few multi-national companies have direct presence in the country. This acquisition will allow ADAMA to further improve and expand its business in Peru, broadening its portfolio and enhancing its access to large scale industrial farmers. Through this acquisition, ADAMA will become one of the leading crop protection companies in Peru, with a comprehensive portfolio of solutions for Peruvian farmers, and a leading commercial platform throughout the country.
Edgardo Iglesias, ADAMA Andean markets General Manager said, "We welcome AgroKlinge to ADAMA and are excited to have its experienced and highly skilled team be a part of our company. AgroKlinge's excellent positioning within the Peruvian market, with a wide product portfolio, strong brand and relationships with leading growers, will significantly bolster our long-term growth in the region. AgroKlinge is well known in Peru for its focus on differentiated products and solutions that provide added-value for farmers in various crops, which is fully aligned with ADAMA's global strategy of portfolio differentiation."
The transaction is subject to customary closing conditions and is expected to close within the coming weeks. Financial details of this transaction were not disclosed.
ADAMA Ltd. is one of the world's leading crop protection companies. We strive to Create Simplicity in Agriculture – offering farmers effective products and services that simplify their lives and help them grow. With one of the most comprehensive and diversified portfolios of differentiated, quality products, our more than 7,000-strong team reaches farmers in over 100 countries, providing them with solutions to control weeds, insects and disease, and improve their yields. For more information, visit us at www.ADAMA.com and follow us on Twitter® at @ADAMAAgri.
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SOURCE ADAMA Ltd.