Completion of Brazilian Acquisition

RNS Number : 6698X

Origin Enterprises Plc

14 August 2018

 

Completion of Brazilian Acquisition

14 August 2018

Origin Enterprises plc, the Agri-Services Group, ('Origin' or 'the Group'), announces today that it has completed the acquisition of a 65 per cent controlling interest in the Brazilian based speciality nutrition and crop inputs business, Fortgreen Commercial Agricola Ltda. ('Fortgreen'), following the satisfaction of all conditions.

The separate transaction to acquire a 20 per cent shareholding in the Brazilian based agronomy services and crop input distribution business, Ferrari Zagatto E Cia. Ltda., ('Ferrari'), is expected to complete during the first half of the 2018/2019 financial year.

Fortgreen and Ferrari ('the Transactions') underline Origin's strategic priority to scale its technology and service portfolios in markets which provide tangible growth opportunities.  The Transactions also provide the platform to address the Group's requirements for meaningful geographical diversification and seasonality balance.

Further details of the Transactions are set out in the RNS announcement dated 19 June 2018.

As previously indicated Origin will issue its Preliminary Results Announcement for the Year Ended 31 July 2018 on 26 September 2018.

ENDS

Enquiries:

Origin Enterprises plc
Peter Dunne
Group Finance Director	Tel:	[phone]
Andrew Mills
Investor Relations Officer	Tel:	[phone]
Goodbody (ESM Adviser)
Siobhan Wall	Tel:	[phone]
Davy (Nominated Adviser)
Anthony Farrell	Tel:	[phone]
Numis Securities (Stockbroker)
Stuart Skinner	Tel:	[phone]
Powerscourt (Financial PR Adviser)
Jack Hickey (Ireland)	Tel:	[phone]
Rob Greening (UK) /                  Jana Tsiligiannis (UK)	Tel:	[phone]

About Origin Enterprises plc

Origin Enterprises plc is a focused Agri-Services group providing specialist On-Farm Agronomy Services, Digital Agricultural Services and the supply of crop technologies and inputs.  The Group has leading market positions in Ireland, the United Kingdom, Belgium, Brazil, Poland, Romania and Ukraine.  Origin is listed on the ESM and AIM markets of the Irish and London Stock Exchanges.

ESM ticker symbol:                OIZ

AIM ticker symbol:                 OGN

Website:                                www.originenterprises.com

 

END

 

 

ACQLLFSRTAIVLIT