Adama Acquires Peru’s AgroKlinge
Israeli agrochemicals producer Adama, now part of ChemChina, has announced it will buy Peruvian crop protection company AgroKlinge. Financial terms of the transaction, which is anticipated to close within the coming weeks – subject to the usual conditions – were not disclosed.
AgroKlinge is one of Peru’s leading domestic agrochemical companies, said Adama. It offers a wide portfolio of crop protection, biopesticide and nutrition products, with a large customer base and special emphasis on large, industrial farmers in a market worth $240 million.
Edgardo Iglesias, general manager of Adama Andean markets, said: “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 expected new owner said. The Peruvian crop protection market is one of the most advanced in the region but only a few multinational companies have a direct presence there, it noted.
In January this year, Adama signed a Memorandum of Understanding to buy key parts of Jiangsu Huifeng Bio Agriculture’s crop protection assets, expanding its footprint in China and globally. At the same time, the Israeli firm said it was also making “significant progress” toward acquiring Chinese crop protection ingredients manufacturer Jiangsu Anpon Electrochemical.
No further news since on the status of these deals has been forthcoming.