Indorama Holdings Brasil Ltda., a Brazilian subsidiary of Indorama Corporation Pte. Ltd., Singapore (“IRC”) has signed definitive documents with shareholders of Adufértil Fertilizantes Ltda., Brazil to acquire 100% shares of Adufértil and its local subsidiary Agromaster Rio Preto Comercio De Produtos Agropecuarious Ltda.
Adufértil is one of the major fertilizer producers and distributors located in the State of São Paulo. Founded in 1980, the company acquired AgroMaster in 2020 expanding into retail. Both firms jointly distribute approximately more than 1 MM ton p.a. of fertilizers and serve a strong customer base. This landmark transaction signifies Indorama’s entry into Brazil, one of the world’s largest fertilizer markets.
Mr. Amit Lohia, Vice Chairman of Indorama Corporation said, “We are very excited about this transaction which will help support Adufértil´s ambitious growth plans in coming years with a strategic and long-term investor like Indorama. Robust continuity of local operations and even stronger partnership with Adufértil’s clients and suppliers remains our top priority. I would like to express my appreciation to Mr. Mario Marchionno for building a remarkable business and thank him for joining the advisory board so that the management may continue benefiting from his valuable experience. Executives from the current management team will remain in local leadership of the Companies.”
Mr. Mario Marchionno, CEO and Founder said, “I am delighted to have Indorama as successor of Adufértil´s ownership, it will surely bring a lot more to our clients, supplier and business partners. Since our first conversation, it was clear to me that we all share the same values and with that, I am certain that our business will continue to grow without losing the essence that it´s much appreciated in the market.”
This transaction is subject to customary regulatory approval and the fulfilment of certain conditions, which is expected to occur in the third quarter of 2021.