Israeli multinational agrochemical company Adama Agricultural Solutions has added to its European product portfolio and range by acquiring the French-Swiss crop protection company SFP, subject to regulatory approvals. Financial details are not available.
SFP, established in 1987, has bases at Aix-en-Provence in France and Sion in Switzerland. It has developed strong positions in the plant growth regulator (PGR) and fungicide segments in Europe.
Adama, part of ChemChina, says the SFP product range is highly complementary to its own European portfolio. Through Adama’s strong existing commercial network throughout the continent, the additional products will drive significant growth for the company.
The two companies have already worked together – Adama manufactures certain active ingredients already used in SFP’s products – providing further commercial support for the deal through competitive costs, quality assurance and traceability through the backward integration.
“SFP has built an attractive portfolio of straight and differentiated mixture products that have carved out compelling positions in France and other key European countries,” states Bertrand Lombard, Adama vice-president southern Europe. We are now looking forward to taking the business to the next level and leveraging our commercial presence across Europe.”
UK marketing and technical director Alison Bosher adds: “SFP has an attractive portfolio of straight and differentiated mixture products that it markets in France and other key European countries. “Among its most significant active ingredients are the plant growth regulators ethephon and chlormequat chloride; and the fungicides prochloraz and cymoxanil; as well as interesting mixtures of each of these actives.”
• At the end of October, Adama acquired a 10% stake in the Romanian agricultural inputs distributor Agricover. The business was founded in 2000 and now has more than 1,000 employees, and 5,700 farmer customers.
“We are strengthening our connection with one of the most important companies in Romania’s agribusiness,” says Adama general manager for Romania and Poland Dimitrios Drisis. “We will work with Agricover to exchange knowledge and good practices in order to support and modernise Romanian agriculture with new products and services.”