Origin acquires Belgium fertiliser firm Pillaert-Mekoson

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.

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“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.