Netafim, the global leader in smart irrigation solutions for sustainable productivity, recently acquired a majority share in RyM, a Costa Rican irrigation solutions provider, to further expand its Central America presence.
The multinational company founded at Kibbutz Hatzerim in 1965, acquired 60 percent of RyM, subsequently establishing Netafim Central America — the company’s 29th subsidiary.
The deal opens up new opportunities for Netafim, and further strengthens its regional leadership position, while helping Central American farmers grow more with less and increase their profitability.
“This acquisition is part of Netafim’s growth strategy,” said Ran Maidan, Netafim’s CEO. “Given the great growth potential in Central America, which is one of the world’s largest producing areas of sugarcane, coffee, bananas and other crops that Netafim specializes in, and RyM’s proven track record, the deal opens up new regional opportunities and enables us to leverage our leading technology to further strengthen our position as the world’s smart irrigation leader.”
RyM has served as Netafim’s representative in Central America for 25 years. The company has 100 employees and branches in six countries – Guatemala, El Salvador, Honduras, Nicaragua, Panama and Costa Rica.
“This deal is yet another important milestone in our ongoing, fruitful and special collaboration with Netafim,” said Alberto Arguello, RyM founder. “For 50 years, Netafim has set the standard for irrigation worldwide. We’re pleased to become a more integral part of that legacy as we create a great foundation for even further success in the future.”
“Since we’ve maintained a deep and unique partnership for success with RyM over the last 25 years, this acquisition is a natural development for us,” said Natan Barak, Netafim Head of Commercial for the Americas.