Rovensa Completes Acquisition of Chilean Biosolutions Company MIP Agro
Rovensa, a global leader of agricultural inputs for sustainable agriculture, has announced that it has completed the acquisition of MIP Agro, a leading player in biocontrol and biostimulants in Chile.
Based in Requínoa, MIP Agro has been Rovensa’s commercial partner in Chile since 2004 as well as the first mover in the promotion of solutions for sustainable agriculture in the region. As of today, MIP Agro has a consolidated commercial and technical team on the ground, working closely with over 2,500 growers and prescribers. The company targets high value crops such as cherries, berries, table grapes, nuts, or citric fruits.
This transaction allows Rovensa to strengthen its leadership position in Latin America, particularly in Chile (the second largest export market for fruits and vegetables), that enables cross-selling synergies with Rovensa’s wider portfolio of biosolutions.
MIP Agro will continue to be led by the current management team and will be integrated within the Rovensa structure in the region.
Rovensa´s CEO, Eric van Innis, announces the news stating that “Both companies share a similar business culture and go-to-market approach. Over the last five years, we have expanded our global footprint and strengthened our portfolio of biosolutions through the acquisition of 10 market-leading companies. With MIP Agro we increase our market penetration in Chile and reinforce our strategic position in Latin America to better serve our distributors and farmers in the region to drive a bio-transformation in agriculture. This transaction will enable us to expand our trusted team of field experts, who will work closely with the local farmers towards the transition to a well-balanced and sustainable agriculture, without compromising product performance and yield output.”
Sebastián Jimenez, founder and CEO of MIP Agro, added “We are very happy to be part of Rovensa and honoured to be able to contribute to Rovensa’s mission: feeding the planet within its boundaries. Taking advantage of the group capabilities and synergies, we will be able to offer our clients an even wider portfolio of biosolutions for their crops.”
Rovensa was advised by Uría Menéndez and PwC. MIP AGRO was advised by Dominguez Godoy Abogados, ULRD Abogados, and Asenjo Consultores.
The financial terms of the transaction are not disclosed.
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