MOROCCO – Morocco’s OCP Group, a leading global phosphate-based plant, and animal nutrition solutions provider, has announced that it has finalized the acquisition of a 50% stake in GlobalFeed from Spanish fertilizer producer Fertinagro Biotech, All Africa has reported.
According to company sources, OCP Group announced its plan to purchase a 50% stake in the Spanish company in September 2022, as part of the Group’s strategy to grow in the animal nutrition market sector through expanding its presence.
GlobalFeed, located in Spain, manufactures and distributes a wide range of products in the animal nutrition segment, including phosphate-based commodities and high-value feed solutions customized to different livestock species.
Commenting on the acquisition, Houda Sabti, Director for Animal Nutrition at OCP Group, said the fertilizer group seeks to strengthen its position in the sector of products dedicated to animal nutrition.
“Through this transaction, we aim to strengthen the positioning of the OCP Group in the sector of products dedicated to animal nutrition and to expand our geographical presence,” adding that the deal confirms “OC’s objective to diversify its phosphate solutions and become a leading player in animal nutrition.”
According to Sabti, OCP’s goal is to meet demand and serve its customers in a sustainable mode as well as through a “diversified, personalized, and innovative product offering,”
He added that the group aims to increase GlobalFeed’s production capacity to reach 400,000 tonnes by 2027.
GlobalFeed CEO Javier Martin also commented on the transaction, stressing the importance of OCP Group as a “long-standing partner” for the Spanish company.
“OCP Group has been a long-standing partner, and together we will ensure that GlobalFeed continues to grow and develop,” Marti said, noting that the company is happy to collaborate again on “adding this alliance to a long list of partnerships between the two groups.”
The acquisition follows a recent move by the phosphate giant to expand its presence through the construction of a US$1.3 billion fertilizer complex in the Takoradi in the Western Region of Ghana.
According to a report from Ghanaian media sources, the project is scheduled to be completed in the next three years and aims to increase fertilizer availability in the African country as well as reduce input costs for farmers.