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Israel Chemicals Acquires Precision Agriculture Company Growers Holdings

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Israel Chemicals Acquires Precision Agriculture Company Growers Holdings

North Carolina-based Growers develops technology that collects and turns manual and machine-generated farm data into planting and fertilization recommendations, aiming to generate higher agricultural yields

Adi Pick | 16:56  19.02.2020

Tel Aviv-headquartered Israel Chemicals Ltd. (ICL) has acquired Raleigh, North Carolina-based Growers Holdings Inc., the former announced Wednesday. The financial details of the acquisition were not disclosed.

Founded in 2011, Growers develops technology that collects and turns manual and machine-generated farm data into planting and fertilization recommendations, aiming to generate higher agricultural yields. The company had raised $32.5 million prior to the acquisition.

Dual-listed on the NYSE and the Tel Aviv Stock Exchange, ICL an industrial company focusing on agriculture, food, and engineered materials. The company is controlled by its largest shareholder, Tel Aviv-listed Israel Corporation Ltd. The company employs more than 11,000 people, and its 2019 revenue totaled approximately $5.3 billion.

Agriculture (illustration). Photo: Bloomberg Agriculture (illustration). Photo: Bloomberg Agriculture (illustration). Photo: Bloomberg

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