info.afrindex.com
China-Africa Trade Information Service
info.afrindex.com
China-Africa Trade Information Service
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Morocco's OCP Group, a world-leading fertilizer producer, is set to purchase a 50% stake in GlobalFeed from major Spanish fertilizer producer Fertinagro Biotech.
The Moroccan fertilizer giant issued a press release on Monday to announce the signing of a definitive agreement, allowing the company to make the purchase.
The acquisition is part of OCP's strategy to grow in the animal nutrition market sector through expanding its “presence geographically and offering a diversified customized and innovative product portfolio.”
GlobalFeed’s operations focus on animal nutrition solutions, manufacturing, and distribution of a wide range of products such as phosphate-based commodities.
Commenting on the new acquisition, Managing Director for Speciality Products and Solutions at OCP Marouane Ameziane said that the deal “confirms OCP’s objective to diversify its phosphate solutions and become a leading player in animal nutrition.”
Ameziane continued that this acquisition will increase the company’s capacity to address growing demand and expand its offering to “specialty sustainable and customized products.”
CEO of GlobalFeed Javier Martin shared the same sentiment asAmeziane while expressing his satisfaction with the acquisition by OCP.
He said that the alliance with the Moroccan group will “accelerate our industrial capabilities and market growth offering sustainable and advanced phosphates to the world’s most demanding nutritionists, as well as better access to cutting-edge technologies and reliable alternatives on the market.”
OCP has been expanding its partnerships worldwide, offering fertilizer expertise and solutions to contribute to the global food security system.
The company is also responsible for the world’s largest phosphate reserves, as Morocco holds 75% of the globe’s reserves of phosphate rock, a crucial element used in fertilizer.
OCP recorded a revenue of $5.29 billion in the first half of 2022. In 2021, the group generated a revenue of $9.4 billion.
