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Brazilian antitrust agency approves Agrototal to take control of Agro Ferrari
Oct. 9, 2018
By Leonardo Gottems, reporter for AgroPages
The Administrative Council for Economic Defense (Cade) approved the unrestricted acquisition of 100% of the capital stock and control of Agro Ferrari by Agrototal. The Brazilian antitrust agency did not find that any harm would be done to competition in the ongoing business between the two large distributors of agricultural inputs.
Agrototal is a holding company that also participates in other companies in Brazil. The company manages the distribution and commercialization of pesticides, such as herbicides, fungicides and insecticides, for different applications and crops in Brazil. It also works with potassic, phosphate and nitrogen fertilizers, NPK fertilizers and foliar solubles, in addition to producing seeds.
Agro Ferrari already operates in the retail sale of pesticides and fertilizers. Although the value of the business was not disclosed by those involved in the process, Agrototal's objective in the acquisition is to expand its operations in the state of São Paulo.
Cade's General Superintendence (SG) justified, in an opinion favorable to the business, that the "horizontal overlap in the market of agricultural products in São Paulo resulting from the deal, and the vertical integration in the markets for production and marketing of foliar fertilizers, does not negatively impact the competitive environment in Brazil".
The companies were represented before the antitrust body by the office Candido Martins Advogados, which specializes in this type of acquisitions and business mergers. It is expected that the publication in the Official Gazette (DOU) of the order with the decision of Cade will soon be published.
Source: AgroNews
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