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Origin Enterprises plc, the international Agri-Services Group, has announced the sale of its Belgian fertiliser business, Pillaert-Mekoson to Brokking Group.
The deal is for a total consideration of €15.5 million on a cash free/debt free basis. The proceeds from the sale will be used for general corporate purposes.
Brokking, through its Triferto fertiliser wholesaling business, operates across Germany, France and the Benelux region.
Origin chief executive officer, Sean Coyle, said: 'Since entering the Belgian market in 2018, we have looked to acquire complementary businesses to add further scale to our fertiliser operations in the region. Without suitable consolidation opportunities we have therefore decided to exit this market, to focus on markets which offer greater growth potential.'