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Gonvarri Industries enters the agri-food sector with the acquisition of Israeli Agromega Projects

Gonvarri Acquires Agromega

• Gonvarri Industries acquires a majority stake in the Israeli advanced agriculture company Agromega Projects Ltd.

• Agromega is a reference company in the agri-food sector thanks to the experience of its professional team and its commitment to technology, digitalization and innovation.

Madrid, February 15th, 2020.- Gonvarri Industries enters the agri-food sector with the acquisition of a majority stake in the Israeli company Agromega Projects Ltd, dedicated to the planning and construction of agricultural projects with an emphasis on greenhouses. It specializes in the design, integration and construction of high-tech greenhouses.

Agromega’s founders, Sigal Ofek and Samuel Broitman will continue as managing directors of the company.

Gonvarri Industries, through the Gonvarri AgroTech strategic initiative, has identified the global expansion of the use of protected agricultural structures, vertical farms and urban agriculture, which is explained by population growth and increased demand for fresh, healthy and quality food.

Gonvarri Industries’ knowledge of the sector, acquired over years of fruitful business relationships with its customers, will in turn enable the integration of the Gonvarri AgroTech initiative into other Group business lines, such as Solar Steel or Material Handling, and will open up a broad horizon for the implementation of agricultural projects around the world.

In the words of Josu Calvo, CEO of Gonvarri Industries, “the acquisition of Agromega Projects Ltd is a great opportunity for Gonvarri to continue growing, deepening the value chain and strengthening our international presence” and added that “this purchase is in line with the group’s strategy of diversification and entry into value-added products and internationalization”.

Agromega Projects Ltd is an Israeli company that offers integrated solutions for the supply and development of high-tech greenhouses. With international vocation and presence in the Middle East, Europe, Africa and Latin America. The proven experience of its professional team, and its firm commitment to the most advanced technology, digitalization and innovation, make Agromega a benchmark company in this market.