Israeli irrigation company Rivulis has announced the acquisition of Indian irrigation company Jain Irrigation Systems Limited in a cash and equity deal. Jain Irrigation will acquire a 22% stake in Rivalis, while Singaporean investment firm Demasek will hold a 78% stake after the merger.
Rivulis will have a dual headquarters Singapore And will continue to be known as Israel and Rivalis Pvt. Jain Irrigation will also be a supplier of irrigation products made in India To its company for its international markets outside India.
Founded in the Revolt Kiputs Quad Northern IsraelIt was originally called the Plastro Gvat before being bought by John Deere in 2007, FIMI in 2014 and Temasek in 2020 for $ 450 million. Indian Jain includes NaanDan, an Israeli company acquired in 2012.
The CEO of Jain Irrigation said: “Under the leadership of Jain Irrigation, the integrated pioneer and disruptive companies of the time were the international business of Jain Irrigation, the original inventor of the sprayer, Nanton or Chapin Watermatics. The way in single tape technology.”
Rivulis CEO Richard Klapholz added: “We are pleased that both companies are joining forces to better meet the growing needs of our customers. Irrigation markets All over the world. At the same time that We benefit from the scale of substantial operational economies And from a dedicated and diversified employee base, we will ensure that all commitments to our farmers and our integrated business partners are sustained and further strengthened. Our goal is to ensure that all of our customers continue to succeed. Benefit from more extensive offers, industry-leading brands, expanded manufacturing base and support from leading irrigation service providers.
The merged company will have 25 factories and 3,300 employees in 35 countries.
Posted on June 22, 2022 by Globes, Israel Business News – en.globes.co.il.
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