Origin completes one Brazil investment, makes progress with another

Agricultural services group Origin Enterprises has completed the acquisition of a 65% controlling interest in the Brazil-based speciality nutrition and crop inputs business Fortgreen Commercial Agricola, following the satisfaction of all conditions, it announced on Tuesday.

The AIM-traded firm said a separate transaction to acquire a 20% shareholding in the Brazil-based agronomy services and crop input distribution business Ferrari Zagatto E Cia, was expected to complete during the first half of the 2018-2019 financial year.

“Fortgreen and Ferrari underline Origin's strategic priority to scale its technology and service portfolios in markets which provide tangible growth opportunities,” the company’s board said in its statement.

“The transactions also provide the platform to address the group's requirements for meaningful geographical diversification and seasonality balance.”