Adama announced it will acquire the remaining 51% stake in Alfa Agricultural Supplies, a leading Greek provider of crop protection and other agriculture-related inputs.
Alfa, founded in 1983 by Mr. Vasileios Paisios, 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.
The parties 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.
The transaction is expected to be completed within the coming weeks following the completion of customary closing procedures.