China-Owned Adama Acquires Greece’s Alfa
28 May 2020 Alfa, founded in 1983 by Mr. Vasileios Paisios, has grown to become one of the leading providers of crop protection, fertilizers and seeds to Greek farmers. Alfa has served as ADAMA’s representative in Greece for more than 30 years, and the companies have been strategic partners in the country since ADAMA’s acquisition of a 49% stake in Alfa in 1993.
ADAMA and Mr. Paisios have entered into a series of agreements in terms of which ADAMA will acquire the remaining 51% stake that it does not already own in Alfa, while Alfa will divest its formulation and logistics operations to a new entity owned by the Paisios family. As a result, ADAMA will own 100% of Alfa’s commercial business including its wholly owned subsidiary Agribul in Bulgaria, providing ADAMA’s crop protection and other agriculture-related inputs to local farmers.
Read more about the companies’ plans here.
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