Origin acquires Belgium fertiliser firm Pillaert-Mekoson
Deal will see Origin acquire business on debt-free basis for undisclosed sum
Tom O’Mahony, chief executive of Origin Enterprises. He said Pillaert-Mekoson was an excellent strategic fit for Origin. Photograph: Eric Luke
Agri-services group Origin Enterprises has acquired Belgium-based fertiliser firm Pillaert-Mekoson for an undisclosed amount.
Pillaert-Mekoson is a leading provider of standard and prescription fertilisers in Belgium and the surrounding regions, with a turnover in the 2017 financial year of €35 million.
The deal will see Origin acquire the business on a debt-free and cash-free basis, with the transaction funded from existing bank facilities.
Origin chief executive Tom O’Mahony said the company was an excellent strategic fit for the Origin group.
“The transaction strongly complements our prescription fertiliser and speciality nutrition business, and benefits from a well invested and strategically located asset base,” he said in a statement.
“The acquisition will add further scale to the group’s crop nutrition portfolios, and will provide an important expansion into a new geography offering multi-channel access to farms with meaningful future growth potential.”
Pillaert-Mekoson managing director Peter Pillaert said the deal would facilitate a “step forward” for the company’s business.