Tradecorp announced it acquired Idai Nature, a leading Spanish producer of biopesticides, in a move to strengthen its biological portfolio.
Tradecorp – Trade Corporation International – operates in the specialized nutrition sector and belongs to Portugal-based Sapec Agro Business Group, which was acquired by Bridgepoint in January 2017.
Idai Nature is currently present in 35 countries and has posted annual growth of more than 30% in recent years. The company’s consolidated revenues amount to 16 million euros.
In the company’s new structure, Tradecorp will continue its development in the area of the plant specialized nutrition, being already a world reference of quality and professionalism in the sector of micronutrients, biostimulants and other specialized products for the plant nutrition. Idai Nature, that will maintain its management team, will continue to develop the concept of “Zero Residue” through biopesticides and another solutions that allow the farmers to treat plants with other plants.
Through this acquisition, the group positions itself as the company best prepared to develop the agricultural concept of “Zero Residues” at a global level, being able to offer integrated solutions to producers and supermarkets free of chemical residues, Tradecorp said. The integrated solutions combine synergistically four techniques necessary to achieve the intended results: high quality and low toxicity plant protection products, precision biostimulants, specialized nutrition products and natural biopesticides harmless to the user, consumers, and the environment.
Eric van Innis, Global CEO of Agro Business, said: “We now have a shared goal: to make Idai Nature a world leader in “Zero Residues”. To achieve this, we will deploy all the Agro Business teams. Tradecorp is a prime example of how this can be done successfully. Its sales have increased by 60 times since our acquisition, and we have developed worldwide the concept of plant anti-stress; we also expect to see exponential growth at Idai Nature in the coming years.”
Carlos Ledó, the founder of Idai Nature, will remain at the company as CEO and Chairman of the Board. Ledó expressed his enthusiasm with the acquisition: “It is an important day for everyone: for our employees, who will now form part of a stable corporate structure with goals as ambition as our own; for the company, as it will continue to create jobs; and for me as an entrepreneur, as I will witness the company I created in 2009 expand its footprint around the globe”.
Sapec Agro Business is a pioneer in the agriculture sector with two business areas, Crop Protection and Crop Nutrition, structured primarily through Sapec Agro and Tradecorp, respectively. The Crop Protection area has a leading position in Southern European markets and is a benchmark in the Iberian region in the manufacture, distribution and sale of unique products formulations based on “off-patent” active ingredients homologated on the company’s behalf. The Crop Nutrition area is currently present in about 80 countries. Bolstered by a strong growth, the company’s revenues have increased in recent years from 110 million euros to 300 million euros.
Bridgepoint, which purchased the Group in January 2017, has over 25 years’ experience in the market, having led transactions valued at over 28 billion euros since 2000. Its main goal is to invest in companies with a strong position in their markets and with growth potential. By working directly with the management team of the acquired company, Bridgepoint helps to create value by expanding business and improving its operations.
Idai Nature advisors for the transaction were IFEDES and AKTION LEGAL PARTNERS. Sapec Agro Business was advised by ALTAMAR, PWC, URÍA MENÉNDEZ, ERM AND DUNHAM TRIMMER.
The value of the transaction was not disclosed.