DLF has acquired a majority sharehold in ESTERO S.A. based in Montevideo Uruguay. The acquisition is a strategic move to enhance the Group’s business platform in South America
DLF’s investment in ESTERO confirms the Group’s strategic goal to develop a strong business platform in South America. 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.
CEO of DLF, Truels Damsgaard, is pleased with the acquisition, which strengthens DLF's position in the growing South American seed market. "This investment, which is our first in South America of this kind, represents a cornerstone in our strategic ambitions for South America.”
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 Carlos Rocha.
You can read more about the partnership in the press releases here.
Technical Director Jorge Gari and General Manager Carlos Rocha in front of DLF ESTERO HQ in Montevideo