Oslo-based Yara International ASA announced on Dec. 13 that it is acquiring the organic-based fertilizer business of Agribios Italiana srl, the company’s second bolt-on acquisition supporting its organic strategy in Europe. Yara has not disclosed the value of the acquisition.
Based in Villafranca Padovana in northern Italy, Agribios has a broad portfolio of organic-based fertilizers produced using animal and agricultural byproducts. With a volume of approximately 60,000 mt produced in 2022, Agribios has a market share of around 10% of the organic-based fertilizer market in Italy, Yara said.
“By acquiring Agribios, Yara will gain a strong foothold in Italy – the second largest organic-based fertilizer market in Europe,” Yara said. “Agribios’ solid market position, combined with our strong commercial presence, will allow Yara to increase sales in the organic-based fertilizer market in Italy and neighboring countries by around 30% within the next three years.”
Yara said it will also be able to offer Agribios’ products to customers outside Italy thanks to its well-established sales and distribution platform in Europe. “We are committed to further expand our offering in the organic fertilizer sector as a complement to our mineral fertilizers to help promote regenerative agriculture and improve soil health,” Yara said.
Yara already sells organic-based fertilizers in many European countries, including France, Spain, and Germany, as well as in the Nordic and Baltic regions. In 2021 (GM Sept. 3, 2021), Yara’s Finnish subsidiary, Yara Suomi Oy, acquired a Finnish producer of organic-based fertilizers, Ecolan Oy (now renamed Yara Eco Oy).
According to global market research firm Kings Research, the organic fertilizer market in Europe is expected to grow at a compounded annual growth rate of 11.53% from 2023 to 2030.