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Tide Group announces purchase of Prentiss Química
Oct. 29, 2019
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ChinaRelated News
By Leonardo Gottems, Reporter for AgroPages
The Chinese-origin conglomerate, Tide Group, announced the acquisition of the capital of Prentiss Química, in Brazil, thus consolidating its position as the complete owner of the Brazilian company from the state of Paraná, with a 100% stake.
“We seek to strengthen our history with cutting-edge technology, create jobs in Brazil and excellent pesticide alternatives for the Brazilian producer through our own line of solutions,” said CEO of Tide do Brasil, Alberto Massanori Koshiyama.
 Alberto Massanori Koshiyama CEO of Tide do Brasil |
According to him, investing in the Brazilian agribusiness is one of the commitments made by the Asian conglomerate. The acquisition, explained Koshiyama, has strengthened the expansion of the group's business, which has already been expanding its operations in the Brazilian market.
With the deal now finalized, the Chinese group is responsible for the complete control of the corporation. With this agreement, several strategic projects will be undertaken, particularly, the expansion of its plant for the synthesis of chemicals in the agricultural area.
Located in the city of Campo Largo, it has an installed area of 4,200m², with a formulation capacity of over 20 million/year of three types: EC, SC and SL. It also has an administrative headquarters in the state capital of Rio Grande do Sul in the city of Porto Alegre.
Crowe Consult, Consultoria Empresarial, was responsible for advising the shareholders of the founding family of Brazilian company, Prentiss Química, over the sale of the remaining shares to Chinese company, Tide International Company Ltd., parent company of Tide do Brasil Ltda. The services were conducted by the Mergers and Acquisitions team, in coordination with partners, Carlos Tortelli and Ademar Seccatto.
Source: AgroNews
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