Mitsui & Co Ltd (Mitsui) has made the decision to acquire 80 percent shares of Consorcio Agroindustrias del Norte SAPI de CV (CAN) from the company's current shareholders.
With head office in Sinaloa State, Mexico, CAN is the holding company of Nueva Agroindustrias del Norte, SA de CV (Adelnor), one of Mexico's leading agricultural supply companies. Upon conclusion of the share transfer agreement and other relevant contracts and receipt of regulatory approval from the relevant authorities, CAN will become a consolidated subsidiary of Mitsui.
Adelnor, since its establishment in 1969, has been distributing a wide range of agricultural supplies, including fertilizers, agrichemicals, seeds, and irrigation tools, from northwestern Mexico to central Mexico. The company boasts an extensive lineup ranging from the products of leading manufacturers to its own private brands and is expanding its operations to encompass a diverse range of crops by leveraging its strengths as a solution provider by offering guidance on farming practices through its over 100 agronomists, and through direct sales to farmers.
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