Indorama Holdings Brasil Ltda (“IHBL”), a Brazilian subsidiary of Indorama Corporation Pte Ltd (“Indorama”) has signed definitive documents with shareholders of Adfert Aditivos Industria e Comercio LTDA and its affiliates (“Adfert”) to acquire 100% shareholding in Adfert.
Adfert, based in Uberlândia, Minas Gerais, is a pioneer and one of the largest manufacturers of special fertilizer additives and crop nutrition solutions in the Brazilian market. Founded in 2009, Adfert has built a complementary and efficient portfolio of high technology and patent protected products for supply to fertilizer producers and agri distributors.
IHBL, through its wholly owned subsidiary, Adufértil Fertilizantes Ltda(“ADF”), operates one of the top 6 granular NPK distributors in Brazil, based in Jundiaí, Sao Paulo. IHBL fully concluded the acquisition of ADF in Sep 2021, which marked the entry of Indorama into Brazil’s fast growing agricultural market.
Mr. Amit Lohia, Vice Chairman of Indorama said “We are very excited about this transaction as it reflects the growing significance of specialty additives and fertilizers for Agriculture 2.0. Adfert offers a compelling portfolio of differentiated and innovative products that are value-accretive for farmers and good for the environment. We look forward to supporting Adfert’s journey, in Brazil and beyond, under the capable leadership of its existing management team.”
Mr. Ubirajara Peron, CEO of Adfert said “We are thrilled for this next chapter of Adfert as part of Indorama and honored to be chosen by them to expand operations in the Brazilian market. We see a great potential of growth with this new partnership, and it will take our great work to the next level, while continue offering innovative and high-level products to our clients.”
This transaction is subject to customary regulatory approval and the fulfilment of certain conditions, which is expected to occur in the third quarter of 2022.