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Johannesburg - Rolfes Technology Holdings [JSE:RLF] on Tuesday announced that its offer to acquire an initial 70% of the issued ordinary share capital and shareholders loan accounts in AgChem Holdings has been accepted.
The acquisition will cost Rolfes R46.8m.
AgChem is the holding company of a group of companies that procure, produce and distributes high-quality agri-chemical products for the agricultural sector.
Rolfes said the acquisition provided it with a unique opportunity to gain an entry into the highly attractive agri-chemicals sector.
"The world's rapidly growing population will drive the demand for increased food production thus ensuring a very positive growth outlook for agricultural chemicals," the company said.
High barriers to enter further support the motivation for Rolfes concluding the acquisition.
The company said AgChem added a totally new range of chemical products to its existing product basket.
Rolfes Chemicals specialises in the distribution of products including various solvents, paint and lacquer thinners, creosotes, waxes and speciality chemicals.
"The acquisition will also assist Rolfes in securing more business for its Africa exports unit," it added.
The acquisition will cost Rolfes R46.8m.
AgChem is the holding company of a group of companies that procure, produce and distributes high-quality agri-chemical products for the agricultural sector.
Rolfes said the acquisition provided it with a unique opportunity to gain an entry into the highly attractive agri-chemicals sector.
"The world's rapidly growing population will drive the demand for increased food production thus ensuring a very positive growth outlook for agricultural chemicals," the company said.
High barriers to enter further support the motivation for Rolfes concluding the acquisition.
The company said AgChem added a totally new range of chemical products to its existing product basket.
Rolfes Chemicals specialises in the distribution of products including various solvents, paint and lacquer thinners, creosotes, waxes and speciality chemicals.
"The acquisition will also assist Rolfes in securing more business for its Africa exports unit," it added.
