Gadot Acquires Agro

Matt Hopkins Posted by Matt Hopkins|17 June 2010

TEL AVIV, Israel — Gadot Chemical Tankers and Terminals Ltd. — a wholly owned subsidiary of holding company Ampal-American Israel Corp., has acquired Israel-based Merhav Agro Ltd., according to Business Wire. Agro has been a leading supplier of plant protection products, plant growth regulators and seeds in Israel for over 50 years, acting as a distributor DuPont, Bayer CropScience, Syngenta, Chemtura and others. Agro’s total 2009 revenues were approximately $21.4 million, with a gross profit of about $9.6 million. The company will be integrated into Gadot’s agro division.

Gadot will acquire Agro for approximately $28.4 million, subject to customary closing conditions, which include regulatory approval from the Israeli Antitrust Commissioner (IAA). Unless IAA approval is delayed, the transaction is expected to close on July 1, 2010.

 
 

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