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EuroChem acquires Argentinian fertilizer distributor Emerger Fertilizantes![qrcode]()
Aug. 8, 2017
EuroChem Agro
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EuroChem Group AG (“EuroChem” or the “Group”) announced the acquisition of Emerger Fertilizantes S.A. (“Emerger” or the “Company”), a privately-owned distributor of premium and standard fertilizers in Argentina. The price and other terms of the deal have not been disclosed.
EuroChem continues to expand its distribution network to get better access to several important markets with its recent acquisitions in Brazil, Bulgaria, Hungary and Spain. This acquisition will further strengthen EuroChem’s footprint in Latin America which is an important region currently accounting for 11% of the Group’s fertilizer sales.
Emerger has annual fertilizer sales of 50 thousand metric tonnes (KMT). It owns a warehouse with storage capacity of 12 KMT about 8 kilometers from the port of San Nicolas de los Arroyos, northern Argentina, and rents 3 separate retail centres. About 60% of sales are of premium fertilizers with a good presence in the local tobacco industry, and the remainder is accounted for by sales to customers in the North East, Central and Central East regions of Argentina. Emerger has 25 employees.
According to the Argentinian fertilizer industry organisation, Fertilizar Asociación Civil, the market for fertilizers in Argentina is expected to increase in size from 3.4 million metric tonnes (MMT) in 2016 to 5.5 MMT in 2020.
Dmitry Strezhnev, EuroChem CEO, commented: “The acquisition of Emerger, a well-positioned distributor in the Argentinian fertilizer market, is another step to bolster our capabilities in Latin America which is one of the fastest growing fertilizer markets in the world. This reflects our intention to expand sales of premium products in Latin America and we are looking forward to developing the business in Argentina and in neighboring countries.”
Enrique Arambarri, former co-owner and CEO, said: “Under EuroChem ownership we will be able to offer a wider range of value-added fertilizers to our customers in Argentina as well as Bolivia, Paraguay and Uruguay.”
Source: EuroChem Agro
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