On December 6, ADAMA announced its acquisition of New Zealand’s AgriNova New Zealand Ltd. (Known as “Grochem New Zealand”, hereinafter referred to as “Grochem”). This acquisition will enable ADAMA to grow its product portfolio in the New Zealand market and pave its expansion into the complementary segments of biological crop protection, plant nutrition and Plant Growth Regulators (PGR).
Grochem develops, produces and sells plant protection products, PGR, biological solutions and plant nutrients for the horticultural market. Grochem’s product portfolio targets the horticulture market, complementing ADAMA’s focus in New Zealand on row crops and fodder markets, and opening up a new, important market segment for ADAMA. Grochem’s expertise in biologicals plant nutrition and PGR is in line with ADAMA’s aim to increase its activities in the emerging market of biological products, increasing its offering that supports sustainable food production. Darrin Hines, CEO of ADAMA Australia & New Zealand, said Grochem’s exceptional position in New Zealand will bolster ADAMA’s long-term growth there and globally. George McHardy, shareholder of Grochem, said joining forces with ADAMA gives Grochem a larger global reach and allows its products to reach a wider audience.