Johannesburg Stock Exchange -listed chemicals and explosives manufacturer AECI has acquired a 100 percent stake in Malawian agrochemicals, seeds and spraying equipment distributor, Farmers Organisation Limited from Rendale Holdings.<\/p>\n
Although AECI would not give the exact value of the transaction, it said it was worth hundreds of millions of rands as Farmers Organisation generated revenue of US$14 million in its last financial year to February.<\/p>\n
The company said that the latest acquisition was part of its growth strategy to expand its agrochemical business in Africa.<\/p>\n
AECI executive Edwin Ludick said AECI would use the purchase of Farmers Organisation as a springboard into Malawi and other countries in southern and east Africa.<\/p>\n
He said the deal would be spearheaded by AECI subsidiary Nulandis, which was driving its growth strategy on the continent.<\/p>\n
\u201cFarmers Organisation has been our customer for 20 years, so we have a long-standing relationship,\u201d said Ludick, who is also the chairperson of Nulandis.<\/p>\n
\u201cThis fits extremely well with Nulandis\u2019s own growth strategy, including greater focus on the smallholder market in Africa.\u201d<\/p>\n
\u201cFarmers Organisation is now a leader in Malawi\u2019s commercial estate market and revenue from the smallholder market segment is increasing,\u201d Ludick said.<\/p>\n
The company said Farmers Organisation would continue distributing its products on behalf of multinational producers.<\/p>\n","protected":false},"excerpt":{"rendered":"
Johannesburg Stock Exchange -listed chemicals and explosives manufacturer AECI has acquired a 100 percent stake in Malawian agrochemicals, seeds and spraying equipment distributor, Farmers Organisation Limited from Rendale Holdings. Although AECI would not give the exact value of the transaction, it said it was worth hundreds of millions of rands as Farmers Organisation generated revenue […]<\/p>\n","protected":false},"author":3,"featured_media":5036,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-5032","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/5032","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/comments?post=5032"}],"version-history":[{"count":1,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/5032\/revisions"}],"predecessor-version":[{"id":5037,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/5032\/revisions\/5037"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media\/5036"}],"wp:attachment":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media?parent=5032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/categories?post=5032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/tags?post=5032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}