Dec. 7, 2016
The CEO of Rizobacter, Ricardo Yapur, believes that with the sale to Bioceres will come a stage of strong expansion in the company.
At present, Rizobacter has 438 employees and targets earnings of US$112 million this year. A month after Bioceres acquires 50.01% of Rizobacter shares for over $100 million, Yapur, who will remain the CEO, believes the two companies will have a strong synergy.
He noted that the merger would require the reorganization of Rizobacter, which will be challenging. He explained that Rizobacter operates at international standards. For its part, Bioceres has a strong commercial presence in the research and development space. Rizobacter products sold through Bioceres may gain a larger foothold in the market.
The CEO stated that 2015 was the company's worst year, with profitability taking a hit from adverse politics and the economic situation. Farmers had aimed to lose as little as possible, so they sowed smaller crop volumes, well below the recommended volumes, which then had a negative impact on them as they sell technological products. In addition, last year saw unfavorable weather conditions, so farmers had to sell their products at the lowest prices.
They offered the market low, medium, and advanced technologies that generate the highest income. Yapur believes that Rizobacter's strength lies in its agility and the speed at which it makes and executes decisions.