Grupo Lavoro, the largest distributor of agricultural inputs in Latin America, announced the acquisition of Colombian Provecampo, which operates in these areas of distribution of agricultural products and technical support to the rural producer.
With the deal, the company controlled by the Pátria Investimentos group expands its portfolio in Colombia, where it already operates with three other operations. The company also operates in Uruguay, in addition to Brazil.
Provecampo has three distribution centers located in the cities of Monteria, Belen de Bajira and Apartadó, with great representation in northern Colombia, a region where Lavoro intends to leverage its market share.
"With the acquisition, our expectation is to advance by 3 percentage points (market share in sales) in the region where Provecampo operates and 0.5 points in the country," Lavoro CEO Ruy Cunha said in a note to Reuters.
The company did not disclose the value of the transaction as it considers it to be strategic information.
According to the Lavoro group, the acquisition of Provecampo is in line with the company's business strategy, which includes organic growth, through the opening of new stores and the incorporation of companies that have synergy with the company.
Recently, three acquisitions were made in the Brazil a Floema, de distribuição de insumos agrícolas no Triângulo Mineiro; Casa Trevo e CATR Comercial Agrícola, duas empresas do Grupo AZ, no Rio Grande do Sul.
The three transactions are still subject to the completion of conditions precedent and approval by the local regulatory body.
Sources: investing.com
