Sicit Group buys 51% of Chilean Patagonia Biotecnologia

Sicit Group buys 51% of Chilean Patagonia Biotecnologia

Sicit Group buys 51% of Patagonia Biotecnologia, Chilean company that manufactures and distributes bio-stimulants based on sea algae. “Sicit is the world’s leading company in the animal-origin bio-stimulants market: we want to grow the plant-based ones too”. That’s how the CEO Massimo Neresini (in photo) explains the operation. The Veneto-based company, controlled by NB Renaissance e Intesa Holding (holding comprised of Arzignano’s tanneries) is already active in the development and production of new generation biological products for the agriculture industry. With the deal in Chile, the company widens its presence in the “plant-based” bio-stimulants segment.

The bio-stimulants market

“The bio-stimulants market grows at a double-digit rate. With Patagonia Biotecnologia – says the CEO Neresini -, we widen our plant-based portfolio to expand the algae-based segment in over 80 countries where we already operate. We open the doors to a company with which we are sure we can obtain solid results with the Sicit model. What’s that? Following all the phases of production, from raw materials to a technological process, until the finished product”.

Patagonia Biotecnologia is growing

Patagonia Biotecnologia is a company certified B-Corp and that adopts ESG standards. It’s HQ is in Puerto Montt, capital of the Los Lagos region, near Chile’s Patagonia area. “Revenue has grown at a 40% rate in the last 4 years – says Sicit in a press release -, effectively reaching a turnover of 5 million euro, 60% of which from exports in North and South America”.

Sicit Group buys 51% of Patagonia

Following the acquisition, David Hockley and Rebeca Galvez, respectively president and CEO of Patagonia Biotecnologia, will remain involved in the company’s management. “The current managerial structure will be supported by Sicit to accelerate technological growth and commercial development”, as explained by the enterprise. “The acquisition of Patagonia Biotecnologia strengthens Sicit’s internationalization efforts: Sicit is a company I have wanted and saw growing at an incredible rate throughout the years”, commented Rino Mastrotto, president of Sicit and reference shareholder of Intesa Holding.

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