Stonex Group Inc. (Nasdaq: SNEX) announced today that its entirely owned subsidiary, Stonex Financial Europe GmbH, has entered into a definitive agreement on the acquisition of Plantureux et Associés, a Paris -based brokerage company, specializing in agricultural products both in physics and natural and natural markets.
The acquisition will provide Stonex a strategic position in the market for French agricultural products.
With almost 40 years of experience in agricultural goods, Plantureux is a respected intermediate in the French cereal market, known for its deep knowledge of industry and its strong relationship between buyer and seller.
Completion of the acquisition is subject to regulatory approval and ordinary closing conditions.
Ramon Martul, CEO of Stonex Europe, commented:
“As Europe’s largest grain producer, France is a crucial link in the world chain of agricultural value.
Brett Phillpott, head of future fulfillment and options at Stonex, observed:
“This acquisition marks a key step in our European development strategy and will give us a strong local presence in France – an essential market for seeds and goods – and enhance our ability to serve customers throughout the area.”
Liam Fenton, a world leader of the Stonex Dairy and Food Team, added:
“The acquisition of Plantureux will greatly enhance our position in the European Agricultural Market. We look forward to close cooperation with its customers in France and throughout the region.”
Xavier Durand-Viel, president of Plantureux and Associates, said:
“We are proud to be involved in the Stonex group and look forward to accelerating our development as part of a global platform.
This acquisition follows a series of strategic investment by the Stonex team in Europe. Earlier this year, the Stonex Group expanded its stable income potential in Europe through the successful acquisition of Octo Finances SA.