Origin Enterprises completes Brazilian acquisition

Tom O'Mahony, CEO of Origin Enterprises
Tom O’Mahony, CEO of Origin Enterprises

Argi-Services firm Origin Enterprises has completed the acquisition of a 65pc stake in Brazilian based speciality nutrition and crop inputs business, Fortgreen Commercial Agricola.

The deal was initially reported in June this year.

A separate transaction to acquire a 20pc share in Brazilian based agronomy services and crop input distribution business, Ferrari Zagatto E Cia (‘Ferrari’), is expected to complete during the first half of Origin’s 2018/2019 financial year.

In a statement today Origin, which already has a market presence in Ireland, the UK, Belgium, Poland, Romania and Ukraine, said that the two investments underline its priority to scale its technology and service portfolios in markets which provide “tangible growth opportunities”.

“The transactions also provide the platform to address the group’s requirements for meaningful geographical diversification and seasonality balance,” Origin said.

The company will issue its preliminary results for the year ended 31 July 2018 on 26 September.

Last month Origin appointed Brendan Corcoran to the role of head of investor relations and group planning.

Mr Corcoran, who has “extensive” agri-business experience in a corporate banking career spanning over thirteen years, will commence the role in September.

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He moves to Origin from HSBC Corporate Banking, where he was relationship director leading the Agri, Food and Beverage portfolio, with responsibility for advising and supporting corporates in the sector.

Prior to joining HSBC in 2010, Mr Corcoran was a senior relationship officer at AIB Capital Markets.

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