Mexichem completes acquisition of irrigation giant Netafim Ltd. for US$ 1.9 billion

Mexico-based plastics and chemicals manufacturer Mexichem SAB de CV announced it has completed the acquisition of an 80% stake in Netafim Ltd., an Israel-based drip-irrigation developer and producer in an all-cash deal worth US$ 1.895 billion.

Mexichem bought its shares from London-based private equity firm Permira, which acquired 61.3% of Netafim’s shares in 2011, and other minority stakeholders. Kibbutz Hatzerim, founder of Netafim, will retain the remaining 20% stake of the company’s share capital. 

With total sales of US$ 855 million for the year ended December 31, 2016, Netafim is the world’s largest drip irrigation company. 

Based in Tel Aviv, Israel, Netafim is a global leader in developing, manufacturing and distributing advanced drip and micro-irrigation solutions, with local presence in more than 30 countries; 17 manufacturing plants, one of them in Reynosa, Tamaulipas; more than 4,300 employees and sales in more than 110 countries worldwide. 

Netafim’s advanced technologies and end-to-end solutions help growers across the world achieve higher and better crop yields while reducing usage of water and other inputs, such as manpower, nutrients and crop protection.


Related News

Mexichem acquires a Pennsylvania-based PVC manufacturer for US$ 39 million

Mexichem acquires Canadian plastic pipe manufacturer