Manuchar, a Belgium-based international distributor of chemicals in emerging markets, has bought a 50% stake in fertiliser distributor Anorel (Pty) Ltd, the South African subsidiary of another Belgian company, Anorel NV, a supplier of crop nutrition products.
The deal gives Manuchar the opportunity to expand its offerings to the high-precision agriculture market across Southern Africa.
“This joint venture fits Manuchar’s ambition to strengthen its leading chemical distribution platform and broaden its product portfolio,” Manuchar said in a statement announcing the deal.
“By joining forces with Anorel, Manuchar will have an excellent platform to further increase its distribution of fertilisers to the high-precision agricultural industry in Southern Africa.”
Manuchar, which is headquartered in Antwerp, generates nearly US$3 billion (about R54 billion) in annual sales. It employs 2 600 employees worldwide, and operates a distribution network spanning North and Latin America, Africa, Europe, the Middle East and Asia.
It trades in a wide range of commodities, including chemicals, steel and polymers. The company has had a South African presence since 2003, and its nearly 100 employees are based in Johannesburg, Durban and Cape Town.
Anorel (Pty) Ltd, the only international subsidiary of Anorel NV, is located in Cape Town, and distributes a wide range of fertilisers, specialising in water-soluble fertilisers and biostimulants. The company has established long-term relationships with its customers in South Africa in the 23 years of its existence.
Steven Atkinson, Manuchar South Africa Country Manager, said the company already has a strong presence in industries such as Home Care, Fabric Care, Personal Care, Human Nutrition, Animal Nutrition, Water Treatment and Textiles, but the tie-in with Anorel will support the company’s further growth of its Crop Nutrition Business.
“By joining forces with Anorel, we can introduce even more products and benefits for our customers and suppliers.
“We have a great fit with Anorel’s management. They share the same values as us, and demonstrate the same entrepreneurial spirit,” he said.
Mark Jacobs, Manuchar’s Africa Region Manager, said: “We’re excited to partner with a company with a strong track record of knowledge and entrepreneurship in the distribution of Crop Nutrition products in South Africa.
“This joint venture will support the further growth of our Crop Nutrition business as one of the pillars of our group strategy, and it highlights the tremendous growth potential in the African market.”
Steven Cafmeyer, CEO of Anorel NV in Belgium and owner of Anorel (Pty) Ltd added: “Manuchar is bringing its global logistical and commodity procurement strengths to complement Anorel in a specialised joint venture serving the needs of a diverse South African market. We’re looking forward to partnering with Manuchar to enhance our mutual offerings of services and solutions to the horticultural market in Southern Africa.”
The deal is expected to close in the second quarter of 2023, subject to antitrust approval.
For more information, visit manuchar.com/za.