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Lavoro acquires NS Agro

Posted by on 12 October 2022
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Lavoro Group is acquiring agricultural supplies company NS Agro in a sustained expansion push throughout Latin America.

NS Agro is a holding company of agricultural inputs retailers in Chile and Peru, specializing in crop protection, fertilizers, seeds and specialty products. Brazil’s Lavoro has acquired more than 20 small- and medium-sized companies since its founding in 2017, with a broad geographical presence in Brazil, Colombia and an early-stage input trading company in Uruguay. It offers farmers a comprehensive portfolio of agriculture input products including seed, fertilizer, crop protection, emerging biologics and other specialty products.

Lavoro’s vertically-integrated crop inputs business, Crop Care, is a major supplier of biologics and specialty fertilizers in Brazil.

According to the terms of the agreement, Lavoro intends to acquire a majority ownership stake of NS Agro, a holding company that includes businesses in Chile (Martinez y Valdivieso, Agroadvance, and Agroscreening) and in Peru (Cytoperu). The group’s revenue in 2021 was more than USD$190 million in the aggregate.

Martinez y Valdivieso, which represents the majority of NS Agro’s revenues, is one of the largest distributors of agricultural inputs in Chile, with 25 stores and more than 7,000 customers. Agroadvance researches, develops and commercializes innovative products such as biologicals for crop protection, biostimulants, plant nutrition and specialty products.

The transaction also includes Agroscreening, an analysis services laboratory, and Cytoperu, which focuses on table grape and blackberry farmers, and has five retail locations in Peru.

Last month, Lavoro Limited and TPB Acquisition Corporation I, a special purpose acquisition company sponsored by The Production Board, announced they had entered into a definitive business combination agreemen that will result in Lavoro becoming a U.S. publicly listed company on NASDAQ.

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