18th Aug 2015 06:45
LONDON (Alliance News) - Origin Enterprises PLC on Tuesday said it has signed a deal to acquire Poland-based agronomy services company Kazgod Group for around EUR22.4 million.
The agri-services company said the acquisition of Kazgod will strengthen its existing operations in Poland, through which it currently services around 3,500 largely-arable farmers under its Dalgety brand.
Origin said the acquisition will be funded by existing banking facilities.
"Kazgod, through providing transformative and meaningful scale expansion potential in Eastern Europe, furthers Origin's strategic development objectives and positions the Group as the premier service provider to primary arable producers in Poland," said Origin Chief Executive Tom O'Mahony.
"The combination of Kazgod and Dalgety will bring benefits through new customer extension opportunity and an enhanced capacity for the development of new and innovative service propositions," O'Mahony added.
By Sam Unsted; [email protected]; @SamUAtAlliance
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