TEL AVIV, Israel and
ATHENS, Greece, May 28, 2020 /PRNewswire/ -- Alfa, founded
in 1983 by Mr. Vasileios Paisios,
has grown to become one of the leading providers of crop
protection, fertilizers and seeds to Greek farmers. Alfa has served
as ADAMA's representative in Greece for more than 30 years, and the
companies have been strategic partners in the country since ADAMA's
acquisition of a 49% stake in Alfa in 1993.
ADAMA and Mr. Paisios have entered into a series of agreements
in terms of which ADAMA will acquire the remaining 51% stake that
it does not already own in Alfa, while Alfa will divest its
formulation and logistics operations to a new entity owned by the
Paisios family. As a result, ADAMA will own 100% of Alfa's
commercial business including its wholly owned subsidiary Agribul
in Bulgaria, providing ADAMA's
crop protection and other agriculture-related inputs to local
farmers.
Bertrand Lombard, ADAMA's VP of
Southern Europe, said: "After many
successful years as ADAMA's partner, this transaction will finally
bring Alfa fully into the ADAMA fold. With the support of Alfa's
highly skilled team, ADAMA will further bolster its position and
offering in this key market by driving the continued development of
its value-added product portfolio, deepening Alfa's already strong
relationships with local ag-input distributors, retailers and
farmers, aiming at meeting the growing needs of farmers in
Greece."
Vasileios Paisios, Alfa's
Chairman and CEO, added: "I am proud of our accomplishments over
the decades, thanks to our talented team and our many years of
collaboration with ADAMA. ADAMA's global reach and broad product
offering, combined with our team's strong local expertise are a
recipe for continued growth in this region. I see this as the next
logical step in the development of the company to advance and
progress in the dynamic Greek crop protection
market."
The transaction is expected to be completed within the coming
weeks following the completion of customary closing
procedures.
About ADAMA
ADAMA Ltd. is a global leader in crop protection, providing
solutions to farmers across the world to combat weeds, insects and
disease. ADAMA has one of the widest and most diverse portfolios of
active ingredients in the world, state-of-the art R&D,
manufacturing and formulation facilities, together with a culture
that empowers our people in markets around the world to listen to
farmers and ideate from the field. This uniquely positions ADAMA to
offer a vast array of distinctive mixtures, formulations and
high-quality differentiated products, delivering solutions that
meet local farmer and customer needs in over 100 countries
globally. For more information, visit us at www.ADAMA.com and
follow us on Twitter® at @ADAMAAgri.
About ALFA
Alfa Agricultural Supplies S.A. was founded in 1983 by Mr.
Vasileios Paisios, and has grown to
become one of Greece's leading
providers of agricultural inputs. With a team of 85 employees,
including 36 agronomists spread throughout Greece, the company offers a comprehensive
product portfolio focused on the provision of high quality
solutions and advice to the Greek farmer. Alfa's products (crop
protection, seeds and fertilizers) provide solutions to most of
crops in Greece. For more
information, see www.alfagro.gr
Contacts
|
|
ADAMA:
|
ALFA:
|
Ben Cohen
|
Vasileios
Paisios
|
Global Public
Relations
|
Management
|
Email:
ir@adama.com
|
management@alfagro.gr
|
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SOURCE ADAMA Ltd.