Morrocan fertilizer company OCP Group has acquired 20% of the Spanish company Fertinagro Biotech S.L. that makes a variety of plant nutrition products. The acquisition has been completed through one of OCP’s subsidiaries by way of capital increase, which had been approved by the relevant stakeholders. The amount of the transaction has not been publicized.
The contract is in line with OCP’s longstanding strategy focused on product customization and innovation in that it leveragesFertinagro’s technical capabilities that directly meet farmers’ specific needs around the world. The deal includes terms on the protection of intellectual property as well as know-how license agreement and a co-development agreement. Both companies now look to work on innovative solutions as well as spur mutual growth through joint commercial initiatives.
“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,”stressed OCP Group’s CEO, MostafaTerrab, and added that “furthermore, this alliance is intended to deliver more opportunities ahead as we grow together leveraging on both companies’ complementary strength and capabilities.”
Generoso Martin, the founder of Fertinagro Biotech, said that the acquisition opened up many opportunities for his company with focus on sharing knowledge and technologies with the ultimate goal of helping farmers achieve better competitiveness and sustainability. “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,” Mr.Generoso said.
Fertinagro is a major Spanish producer of crop nutrients that is committed to commercializing plant nutrition solutions such as NPK, enriched NPK and biostimulants. The company is a leading playerespecially when it comes to multiple product development and innovation capabilities and biotech application, which also goes hand in hand with the high number of patents registered. Fertinagro has production capacity of 2 million tons throughout its 22 owned manufacturing facilities and logistics centres in France and Spain. With its approximately 21,000 employees, OCP is a leading global producer of phosphate rock, contributing to regional development through its mining and fertilizer operations, and through its sustainability program.