ADAMA to Acquire AgriNova New Zealand Ltd.
BEIJING, CHINA and TEL AVIV, ISRAEL, December 6, 2022 – ADAMA Ltd. (the “Company”) (SZSE 000553), a leading global crop protection company, today announced the acquisition of AgriNova New Zealand, Ltd – known as Grochem New Zealand (hereafter referred to as "Grochem"). Grochem is a company that develops, manufactures and sells crop protection products, plant growth regulators, biosolutions and plant nutritional’s primarily in the horticulture segment. This acquisition will enable ADAMA to grow its product portfolio in the New Zealand market and pave its expansion into the complementary segments of biologicals, plant nutrition and Plant Growth Regulators (PGR).
Grochem’s product portfolio targets the horticulture market, complementing ADAMA’s focus in New Zealand on row crops and fodder markets, and opening up a new, important market segment for ADAMA. Grochem’s expertise in biologicals plant nutrition and PGR is in line with ADAMA's aim to increase its activities in the emerging market of biological products, increasing its offering that supports sustainable food production.
Darrin Hines, CEO of ADAMA Australia & New Zealand, said “We are delighted to bring Grochem into the ADAMA family. Grochem’s position in New Zealand, with its exceptional products and strong brand, will bolster ADAMA’s long-term growth there and globally. Grochem’s close relationships with local growers and distribution partners along with its effective portfolio of biologicals, aligns harmoniously with ADAMA’s global strategy.”
George McHardy at Grochem, said “Joining forces with ADAMA gives us a larger global reach and allows our products to reach a wider audience. We are excited to become part of a company with the same value system and care for customers that has always been part of the Grochem brand.”
AgriNova (Grochem) is a wholly owned company with its head office and production site in Wellington, New Zealand. The company was founded in 1993 and is focused on the sale and distribution of crop protection products in New Zealand, Australia, South Africa and Chile. In business for nearly three decades, Grochem has pioneered the development and registration of sustainable crop solution options for New Zealand’s local market primarily for pipfruit, kiwifruit orchards and vineyards.