Agri-services group Origin Enterprises said it would sell its Belgian fertiliser business Pillaert-Mekoson to Brokking Group in a deal worth up to €15.5 million.
The group said it was exiting the Belgian market to focus on others that offered more potential for growth.
The proceeds of the sale be used for general corporate purposes, Origin 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," said Origin chief executive Sean Coyle.
Without suitable consolidation opportunities we have therefore decided to exit this market, to focus on markets which offer greater growth potential. We would like to thank the Pillaert team for their significant contribution to the Group since acquisition and wish them continued success with their new owners.”
Brokking operates across Germany, France and the Benelux region, through its Triferto fertiliser wholesaling business.
