Rovensa announced this Thursday the acquisition of Mexico’s Cosmocel, assuming the world leadership in bionutrients and biological solutions for sustainable agriculture. The operation, whose value was not disclosed, allows the group to increase its revenues by 80%, to €650 million.
Headquartered in Monterrey, Mexico, Cosmocel manufactures specialised biostimulants and high technology products for agriculture and works with over 50 countries in North America, Latin America, Europe, the Middle East and South Africa. It employs over 700 workers and has three manufacturing centres.
According to Rovensa, the acquisition opens “the doors to new geographies”, facilitating access to strategic markets on the American continent. It also brings increased production capacity in Mexico, “besides additional R&D skills and important synergies between products. This strategic integration positions Rovensa as a world leader in BioSolutions for sustainable agriculture,” the company claims in a statement.
The conclusion of the process is subject to the approval of the competition authorities. Once completed, the new group will have annual revenues of €650 million, up 80% from the 360 million targeted in 2020. “This strategic integration reaffirms our growth ambitions in the international BioSolutions market and our firm commitment to sustainable agriculture,” says Eric van Innis, CEO of the former Sapec.
Rovensa already employs over 2,000 people in 30 countries and sells to more than 80 countries. It was advised in this operation by JP Morgan, Uría Menéndez, Dunham Trimmer, PwC, Marsh and ERM.
The company, with headquarters in Lisbon, has its origins in the agri-business of Sapec, founded in 1926 to exploit the pyrite mines in the Alentejo, later evolving into a manufacturer of fertilisers from the ash of the mineral. It grew into agricultural products, internationalised to 70 countries and in 2016 caught the eye of Bridgepoint, which acquired it. The company’s positioning to supply products for a more balanced and sustainable agriculture was strengthened. In 2020, the Swiss venture capital group Partners Group acquired the British Bridgepoint stake for about €1 billion.