May. 15, 2013
The Makhteshim Agan Group (MAI), a global leader in crop protection solutions, and ChileAgro Solutions (ChileAgro), a Chilean plant nutrition and abiotic stress relief solutions company, announced that MAI has entered into a definitive agreement for the acquisition of a majority stake in ChileAgro. This acquisition will provide MAI with a marketing and distribution platform in the Chilean agrochemicals market, and a broader, more diverse product offering to serve farmers in this market.
Chile represents one of the most advanced and competitive economies of South America, with a high value placed on agricultural technology. Established in 1998, ChileAgro is a privately held company focusing on the development, marketing and distribution of plant nutrition products and agricultural biostimulants, both complementary to plant protection products. ChileAgro specializes in providing innovative solutions to customers, with a focus on fruit producers. This concentration will allow MAI to further improve and expand its activities in Chile through emphasis on the customer and portfolio differentiation.
This transaction marks another step in MAI’s global geographical expansion strategy.
Shaul Friedland, CEO of MAI’s Americas region said, “We welcome ChileAgro to MAI and are excited to have their experienced and highly skilled team be a part of the Group. Their excellent positioning within the Chilean market will add greatly to our long-term growth in South America. ChileAgro is well known in Chile for its close relationships with its customers and its professionalism, with a comprehensive knowledge of the domestic market. We feel that their focus on products that provide added-value for farmers in various crops perfectly fits into MAI’s global vision of portfolio differentiation.”
Rodrigo Saavedra, Co-Founder and CEO of ChileAgro Solutions commented, “This transaction gives us access to MAI’s extensive product portfolio which will in turn allow us to provide even more comprehensive and innovative solutions to our customers. We are excited about this new partnership and are confident that it will position ChileAgro as a market leader in Chile, leading to significant growth in the long-term.”