ADAMA Acquires Majority Stake in Key Paraguayan Ag-distributor
TEL AVIV, Israel, and HERNANDARIAS, Paraguay, Oct. 15, 2020 /PRNewswire/ — ADAMA Ltd. (SZSE 000553) announced today that it has acquired a majority stake in its key crop protection distributor in Paraguay, FNV S.A., strengthening the Company’s commercial presence in the large Latin-America market.
Founded in 2015, FNV has become a highly reputable and rapidly growing distributor of crop protection, fertilizers, seeds and bio-stimulants in Paraguay, the world’s 6th largest producer and 4th largest exporter of soy. FNV’s strong and loyal customer base among large, industrial farmers will provide ADAMA with direct market access, ensuring the sustainability and growth of ADAMA’s key distribution platform.
FNV already serves as the Company’s key distributor in the country for some of its flagship products including CRONNOS®, the triple-action fungicide for Asian soybean rust, as well as ADAMA’s recently launched self-produced Prothioconazole-based mixture ARMERO™. The acquisition will allow the Company to introduce its vast product portfolio in the country, and capture the full …