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Rainbow acquired 73% share of Ningxia Grenada
May. 19, 2015
Rainbow Agro
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China
Chinese agrochemical companies Shandong Weifang Rainbow Chemical and Zhejiang Shenghua Biok Biology recently signed an agreement on equity purchase of Ningxia Grenada. Rainbow purchased 73% stake in Ningxia Grenada, which was held by Biok. After this deal, Rainbow will also increase its equity ratio in Ningxia Grenada by Capital increase.
Rainbow’s rapid growth in international market results in increased production demands. The equity transaction will enrich the portfolio of Rainbow, make the strategic layout of production base more reasonable, provide sufficient strategic reserves for the development in 5-10 years, as well as create a more solid foundation and support for market development.
Rainbow has always been committed to the international market development since its establishment. It has achieved sustained and stable growth since 2011, owing to the innovative global rapid market access platform construction and transformation of the brand strategy. According to the list of top 100 Chinese agrochemical companies and Chinese customs data, the turnover of Rainbow has reached $ 510 million, ranking Number 4 in sales revenue and Number 1 in export value in the Chinese Agchem industry in 2014.
Source: AgroNews
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