Sale of Belgian fertiliser business
Origin Enterprises announces sale of Belgian fertiliser business
Pillaert-Mekoson acquired by Brokking Group for €15.5 million
1 July 2021
Origin Enterprises plc, ('Origin' or 'the Group') the international Agri-Services Group, today announces the sale of its Belgian fertiliser business, Pillaert-Mekoson ('Pillaert') to Brokking Group ('Brokking') for total consideration of €15.5 million on a cash free / debt free basis. The proceeds from the sale shall be used for general corporate purposes. Brokking, through its Triferto fertiliser wholesaling business, operates across Germany, France and the Benelux region.
Commenting on the announcement, Origin Chief Executive Officer, Sean Coyle, said:
"Since entering the Belgian market in 2018, we have looked to acquire complementary businesses to add further scale to our fertiliser operations in the region. Without suitable consolidation opportunities we have therefore decided to exit this market, to focus on markets which offer greater growth potential. We would like to thank the Pillaert team for their significant contribution to the Group since acquisition and wish them continued success with their new owners."
About Origin Enterprises plc
Origin Enterprises plc is a focused Agri-Services group providing specialist on-farm agronomy services, digital agricultural services and the supply of crop technologies and inputs. The Group has leading market positions in Ireland, the United Kingdom, Brazil, Poland, Romania and Ukraine. Origin is listed on the Euronext Growth (Dublin) and AIM markets of the Irish and London Stock Exchanges.
Euronext Growth (Dublin) ticker symbol: OIZ
AIM ticker symbol: OGN
About Brokking Group
Brokking Group is a privately held business based in Holland with operations in several European countries.
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