19 Oct Corporate news
Rovensa has agreed to acquire Oro Agri, a leading provider of environmentally friendly biocontrol solutions with international reach, from the Omnia Group.
Oro Agri has delivered an impressive track record of growth over the past two decades, supported by a high-quality portfolio of patent-protected biological products. The acquisition of Oro Agri reinforces Rovensa as the leading independent provider of biological solutions globally and further expands its geographical footprint, particularly across the US, Asia and South Africa. Rovensa looks forward to partnering with Erroll Pullen (Founder and CEO of Oro Agri) and his outstanding management team to accelerate Oro Agri’s expansion by leveraging Rovensa´s platform to exploit further growth opportunities.
Eric van Innis, CEO of Rovensa, stated: “Oro Agri has built an impressive biologicals business, with a worldwide renowned brand. Its regulatory and intellectual property strength, as well as its customer-oriented, technical go-to-market strategy with a boots on the ground approach are squarely aligned with Rovensa´s philosophy and principles. We are extremely excited to welcome Oro Agri into Rovensa. Its ambitious and talented management team, a highly promising product pipeline and the significant opportunities arising from the integration within the wider Rovensa group will be important drivers of our continued development.”
Erroll Pullen, Founder and CEO of Oro Agri, said: “It has taken us twenty years, from a one- man start-up to establishing leadership, product portfolio and distribution network across more than 75 countries. Recognition of these virtues by growers and distributors has recently opened the door for Oro Agri to significantly expand its North American distribution, doubling the number of outlets in the US. In Latin America, Europe, Africa, and Asia our teams are also busy with substantial distribution expansions. Being part of Rovensa is very exciting for our personnel as we see many new doors opening for the introduction of complementary products. I could not be more excited and my senior management staff is elated.“
Completion of the acquisition is expected to take place prior to 2020 year end and remains subject to the approval of the shareholders of Omnia Holdings Limited, as well as certain merger control and other clearances.
Rovensa’s portfolio of innovative agricultural solutions and technologies helps farmers enhance crop yields and provide food security. Rovensa has three divisions: BioControl, which offers solutions based on biological inputs, such as plant extracts and micro-organisms; BioNutrition, which provides agricultural crops with specialty nutrition solutions for growth and healthy development; and Crop Protection, which eliminates and prevents biological threats in crops. Rovensa specialises in formulating sustainable products which reduce agriculture’s environmental impact, combat its contribution to climate change and support the cultivation of healthy food.
Advisers to Rovensa were: HSBC, J.P. Morgan, Uría Menéndez, McKinsey, Context, PWC and ERM.