EuroChem Group AG has reported the acquisition of 100% interest in Agricola Bulgaria, Bulgaria’s leading fertilizer distribution company. It will be renamed EuroChem Agro Bulgaria. The deal has already been approved by Bulgaria’s competition regulator.
Agricola Bulgaria was previously owned by Agrium Europe, and has annual fertilizer sales of approximately 70 000-80 000 t, 9% of the Bulgarian fertilizer distribution market. The acquisition will help to further develop EuroChem’s distribution footprint in Bulgaria and the wider region of Eastern Europe.
Dmitry Strezhnev, EuroChem’s CEO, commented: “The acquisition of Agricola Bulgaria, a well-established player in the Bulgarian fertilizer distribution market, is in line with our expansion strategy in Eastern Europe where we see strong demand for fertilizers. This acquisition will contribute to the Group’s growth in Bulgaria and its neighbouring countries while providing local farmers with better access to EuroChem’s high quality fertilizer products and agricultural solutions.”
Read the article online at: https://www.worldfertilizer.com/potash/02032017/eurochem-acquires-agricola-bulgaria/