OCP Group Complets Acquisition of 20% of Spanish Fertinagro Biotech
Moroccan OCP Group, the world’s largest exporter of phosphates and a leading global phosphate plant nutrition player, and Fertinagro Biotech S.L., a Spanish company which manufactures and supplies a wide range of plant nutrition solutions, have completed the acquisition by OCP, through one of its subsidiaries, of 20% of Fertinagro’s shares by way of a capital increase.
The amount of the transaction has not been disclosed, but all required regulatory approvals have been obtained and the capital increase has been approved by Fertinagro’s shareholders, said the OCP and Fertinagro Biotech S.L in a communiqué on Tuesday.
The acquisition is in line with OCP’ strategy focusing on innovation and product customization by leveraging Fertinagro’s technical know-how and ability to respond to the farmer’s specific needs.
As part of the transaction, Fertinagro and OCP have signed an intellectual property and know-how license agreement as well as a co-development agreement, in line with OCP’s strategic pillars to boost innovation and offer customized fertility solutions to meet farmers’ specific needs around the world.
Through this partnership, OCP and Fertinagro intend to pool efforts to further develop innovative products and solutions for the agriculture and plant nutrition, as well as carry out further growth through joint industrial and commercial projects in the next few years.
“The strategic partnership we concluded with Fertinagro Biotech is a new step towards achieving our global growth strategy focusing on creating innovative, customized plant nutrition solutions adapted to crops and soils, to address the specific needs of farmers around the world. Furthermore, this alliance is intended to deliver more opportunities ahead as we grow together leveraging on both companies’ complementary strength and capabilities,” said chairman and chief executive officer of OCP Group, Mostafa Terrab.
For his part, Fertinagro Biotech’s founder, Generoso Martin, said that “OCP’s investment in Fertinagro will open many new opportunities to share knowledge and technologies with farmers, helping them achieve better competitiveness and sustainability in an ever-more demanding agriculture. OCP is the best partner with whom we share the vision and passion that animates us every day to serve farmers and agriculture, a central pillar of our current efforts and future developments.”
“We believe the alliance of efficiency, technology and scale brought by this unique partnership will undoubtedly benefit millions of growers around the world,” he added.
Fertinagro is a major Spanish fertilizer company dedicated to the production and commercialization of plant nutrition solutions (NPK, enriched-NPK, biostimulants etc.)
The company, which is a leading player in terms of product development capabilities, biotech application and number of patents registered, has a production capacity of 2 million tons throughout its 22 owned manufacturing plants and logistics centers located in Spain and France.
Fertinagro has also an international footprint through its subsidiaries and sales in over 60 countries worldwide.
OCP is a leading global fertilizer player. It is one of the lowest cost producers of phosphate rock in the industry and has become a leading player in production and trade volumes across the phosphate value chain.
OCP employs approximately 21,000 people and contributes to regional development through its mining and fertilizer operations, and through its sustainability program.