Morocco’s OCP Group announced on Sept. 26 that it has signed a definitive agreement to initially acquire 50% of GlobalFeed SL from Spanish fertilizer producer Fertinagro Biotech SL, further expanding its ties to Fertinagro.
It owns a 20% stake in Fertinagro (GM Oct. 19, 2018) and has 50% stakes in two other joint ventures – Fertinagro OCP Organic Biosolutions (GM June 3, p. 28) and OCP Fertinagro Advanced Solutions (GM Jan. 25, 2019), which produces NPKs, as well as products including urease inhibitors, biostimulants, and micronutrients.
“This acquisition confirms OCP’s objective to diversify its phosphate solutions and become a leading player in the animal nutrition sector, addressing growing demand and expanding its offerings to specialty sustainable and customized products” said Marouane Ameziane, Managing Director for Specialty Products and Solutions at OCP.
The company noted that the animal feed market has been strong in recent years as livestock production has grown to feed the world’s increasing needs for adequate meat and protein products.
GlobalFeed operates in the animal nutrition segment and manufactures and distributes a wide range of products, including phosphate-based commodities and solutions dedicated to several species. The company owns flexible production units with a capacity of 200,000 mt of phosphate-based products and 30,000 mt of iron sulfate located in Huelva, Spain. It also has a large global sales footprint.
“This even closer alliance with OCP will accelerate our industrial capabilities and market growth, offering sustainable and advanced phosphates to the world’s most demanding nutritionists, as well as better access to our cutting-edge technologies and reliable alternative on the market,” said Javier Martin, GlobalFeed CEO.
The GlobalFeed transaction is subject to customary closing conditions, including regulatory approvals.