Established in 2000, Agricover is specialized in the distribution of inputs for agriculture, with a turnover of RON1.6 billion at the end of 2018 ($416 million) and a 25% increase in the number of farm customers.
“We continue our strategy and we access the specialized know-how for each business line by developing strategic partnerships, this time, in the field of farm inputs distribution, with Adama being one of the global leaders in the sector of manufacturing products for the protection of agricultural crops. Farmers, our partners, will have access to a complex portfolio of products, specialized consulting and state-of-the-art plant protection technologies,” said Liviu Dobre, general manager of Agricover Holding.
Dimitrios Drisis, general manager of Adama Romania and Poland, was appointed member of the Board of Directors of Agricover, effective at this moment.
Drisis also said the partnership with Agricover will enable Adama to get much closer to farmers, while continuing to work and offer full support to its loyal and traditional partners on the market, which will keep selling its products countrywide.
Following the transaction, Agricover’s shareholding structure is as follows: Agricover Holding S.A. (86.75%), Adama (10.00%), minority shareholders (3.25%).
In Romania, Adama Agricultural Solution SRL had a turnover of RON200 million in 2018, down 2% from 2017, a net profit of RON2.8 million and an average 20 employees, according to Confidas.ro data.
Adama Agricultural Solution SRL is held by Makteshim Agan Holding BV, and the company administrators are Dimitrios Drisis (Greek citizenship) and Frumerman Eliezer (Israeli citizenship).
Agricover, a subsidiary of Agricover Holding, a group held by businessman Jabbar Kanani, ended 2018 with a turnover of RON1.64 billion and a profit of RON13.2 million from the distribution of farm inputs, silo services, grain and oil seed trade, as well as operations of slaughtering, processing and trading of pork.