Sale of Belgian fertiliser business

RNS Number : 7429D
Origin Enterprises Plc
01 July 2021
 

Origin Enterprises announces sale of Belgian fertiliser business

 

Pillaert-Mekoson acquired by Brokking Group for €15.5 million

 

1 July 2021

 

Origin Enterprises plc, ('Origin' or 'the Group') the international Agri-Services Group, today announces the sale of its Belgian fertiliser business, Pillaert-Mekoson ('Pillaert') to Brokking Group ('Brokking') for total consideration of €15.5 million on a cash free / debt free basis. The proceeds from the sale shall be used for general corporate purposes. Brokking, through its Triferto fertiliser wholesaling business, operates across Germany, France and the Benelux region.

 

Commenting on the announcement, Origin Chief Executive Officer, Sean Coyle, said:

 

"Since entering the Belgian market in 2018, we have looked to acquire complementary businesses to add further scale to our fertiliser operations in the region. Without suitable consolidation opportunities we have therefore decided to exit this market, to focus on markets which offer greater growth potential. We would like to thank the Pillaert team for their significant contribution to the Group since acquisition and wish them continued success with their new owners."

 

 

ENDS

 

 

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, Brazil, Poland, Romania and Ukraine. Origin is listed on the Euronext Growth (Dublin) and AIM markets of the Irish and London Stock Exchanges.

 

Euronext Growth (Dublin) ticker symbol:  OIZ

AIM ticker symbol:                                     OGN

Website:                                                      www.originenterprises.com

 

 

About Brokking Group

 

Brokking Group is a privately held business based in Holland with operations in several European countries.

 

 

Enquiries

 

Origin Enterprises plc

 

 

TJ Kelly

 

 

Chief Financial Officer

Tel:

+353 (0)1 563 4959

 

 

 

Brendan Corcoran

 

 

Head of Investor Relations and Group Planning

Tel:

+353 (0)1 563 4900

 

 

 

Goodbody (Euronext Growth (Dublin) Adviser)

 

 

Joe Gill

Tel:

+353 (0)1 641 9449

 

 

 

Davy (Nominated Adviser)

 

 

Anthony Farrell

Tel:

+353 (0)1 614 9993

 

 

 

Numis Securities (Stockbroker)

 

 

Stuart Skinner

Tel:

+44 (0)20 7260 1314

 

 

 

FTI Consulting (Financial Communications Advisers)

 

 

Jonathan Neilan / Patrick Berkery

Tel:

+353 (0)1 765 0884

 

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