DLF, global leader in forage and turf seed, has acquired a majority shareholding in Estero S.A. based in Montevideo, Uruguay.
DLF’s investment in Estero confirms the group’s strategic goal to develop a strong business platform in South America, according to a news release. DLF has acquired 60% of the shares in Estero S.A. whereas Carlos Rocha and Jorge Gari, directors and founders of Estero, own the remaining 40%. The company will operate as DLF Estero.
“This investment, which is our first in South America of this kind, represents a cornerstone in our strategic ambitions for South America,” says CEO of DLF, Truels Damsgaard.
“We have known Estero for more than 10 years as a well-managed and highly esteemed seed company. Our investment in Estero secures a platform from which we can develop our seed activities in Uruguay as well as throughout South America. Estero offers an excellent opportunity to leverage our ongoing investments in research and plant breeding even further. Our varieties developed from our global research activities are well adapted and well performing in many parts of South America.
“The acquisition of Estero and the integration of our current wholesale activities based in Argentina into DLF Estero, helps unlock a considerable potential for beef and dairy farmers as well as for professional turf grass users in South America,” adds Damsgaard.
Carlos Rocha, managing director of Estero, looks forward to being part of the DLF Group. ”We have known DLF even before the formation of Estero and have enjoyed fruitful business dealings over the years. South America provides interesting opportunities for DLF, being a strong and innovative plant breeding and science based company. We look forward to develop the turf and forage seed business all over South America with DLF Estero as the commercial vehicle,” says Rocha.
DLF’s investment in Estero confirms the group’s strategic goal to develop a strong business platform in South America, according to a news release. DLF has acquired 60% of the shares in Estero S.A. whereas Carlos Rocha and Jorge Gari, directors and founders of Estero, own the remaining 40%. The company will operate as DLF Estero.
“This investment, which is our first in South America of this kind, represents a cornerstone in our strategic ambitions for South America,” says CEO of DLF, Truels Damsgaard.
“We have known Estero for more than 10 years as a well-managed and highly esteemed seed company. Our investment in Estero secures a platform from which we can develop our seed activities in Uruguay as well as throughout South America. Estero offers an excellent opportunity to leverage our ongoing investments in research and plant breeding even further. Our varieties developed from our global research activities are well adapted and well performing in many parts of South America.
“The acquisition of Estero and the integration of our current wholesale activities based in Argentina into DLF Estero, helps unlock a considerable potential for beef and dairy farmers as well as for professional turf grass users in South America,” adds Damsgaard.
Carlos Rocha, managing director of Estero, looks forward to being part of the DLF Group. ”We have known DLF even before the formation of Estero and have enjoyed fruitful business dealings over the years. South America provides interesting opportunities for DLF, being a strong and innovative plant breeding and science based company. We look forward to develop the turf and forage seed business all over South America with DLF Estero as the commercial vehicle,” says Rocha.
