On July 11, Sumitomo, Spectr-Agro and Spectr-Agrotechnics (Spectr-Agro) signed an agreement according to which Sumitomo will acquire 51% of Spectr-Agro shares.
"It is expected that through the combination of Sumitomo's global experience with the local knowledge of Spectr-Agro, the latter will expand and grow in Ukraine," the message says.
The acquisition of Spectr-Agro is one of the steps of Sumitomo's business development in agricultural trade.
Spectr-Agro was founded in 2009 and currently operates throughout Ukraine. Spectr-Agro supplies PPPs, fertilizers, seeds and agricultural machinery.
Sumitomo is one of the largest Japanese corporations. The agri-scientific business line (ASBL) was launched in the company, which members are the leading exporters of PPPs today. Having started with the export of PPPs from Japan, Sumitomo is actively engaged in expanding the supply chain, developing wholesale and retail distribution channels. To date, this activity is carried out in 30 countries around the world. In 2011, the corporation acquired the company Alcedo S.R.L, the largest retailer of agricultural products in Romania, and in 2015 — Agro Amazonia, which is one of the largest farmer retail trade channels in the state of Mato Gross in Brazil.