Agricultural commodity trade Louis Dreyfus Co. (LDC) has sold its Africa-based Fertilizers and Inputs Holding B.V. to private investment firm Helios Investment Partners on 24 July.
The sold business, acquired by LDC in 2011, distributed fertilisers, crop protection products, seeds and industrial chemical throughout West Africa, LDC said in a statement on its website.
Fertilizers and Inputs Holding generated an approximate US$300M in sales annually.
“Our global fertilisers and inputs business has expanded its reach, sales volumes and customer base in recent years. This transaction is fully in line with our strategy of concentrating on businesses in which we enjoy closer ties to product origination and farmer relationships,” said LDC CEO Gonzalo Ramírez Martiarena.
Martiarena also said the sale would help LDC focus on areas outside Africa through its Macrofertil brand of fertilisers, which according to Martiarena would help LDC diversify its fertilisers and inputs products elsewhere in the world.
The closing of the transaction was subject to regulatory approvals and other customary conditions, LDC said.