Adama to acquire minority stake in Romanian distributor Agricover

Agricover, a subsidiary of Agricover Holding, a major player in the Romanian agribusiness, and Adama, one of the world’s leading crop protection companies, today announced that Adama has acquired a 10% stake in Agricover.

Established in 2000, Agricover specializes in the distribution of inputs for agriculture, follows a business development strategy focused on optimizing its product portfolio, growing its market share and streamlining its operations. Agricover, one of the largest Romanian distributors of agricultural inputs for international producers, is actively engaged in broadening its business relationship with all its partners, to offer farmers efficient solutions for productive farming, reducing the production cost per hectare, and adopting world-class environmental protection practices. With a turnover of RON 1.6 billion (USD 416.0 million) at the end of 2018, Agricover is growing sustainably, having increased its customer base by 25% in 2018.

“We are implementing our strategy to secure specialized know-how by fostering strategic partnerships for each line of business, this time for the distribution of agricultural inputs, ADAMA being one of the most renowned global leaders in the generic crop protection market. The farmers, our partners, will have access to a diverse, high-quality product portfolio, specialized expertise, and high-end, modern, and innovative crop protection technologies,” said Liviu Dobre, General Manager of Agricover Holding.

Dimitrios Drisis, General Manager of Adama Romania and Poland has been appointed as a member of the Board of Directors of Agricover with immediate effect.

Following the transaction, Agricover S.A. is now 86.75% owned by Agricover Holding S.A., 10% owned by Adama, with the balance owned by minority shareholders.