Mumbai, April 19, 2017: Jain Irrigation Systems Limited (“JISL”) thru its multi generation Wholly Owned Subsidiary in United States of America (“USA”) agreed to acquire 80% stake in 2 US entities. Two of the United States’ largest micro-irrigation dealers - Agri-Valley Irrigation, Inc. (“AVI”) and Irrigation Design and Construction, Inc. (“IDC”), have entered into an agreement to merge ownership of their businesses into a newly formed distribution company. The new organization is an un-paralleled leader in design, construction, service, and innovative Ag Technology. This entity will provide a unique platform to help growers implement state-of-the-art irrigation technology and achieve “More Crop Per DropTM”. AVI and IDC have been long tenured stable companies with operations in United States of America.
Key Highlights:
Vertical Integration Merger by Consolidation of 2 largest dealers in California with 13 locations and more than 225 employees.
Emerging as one of the largest companies in Irrigation business in the USA along with Jain Irrigation, Inc. (JII).
AVI and IDC combined revenue for 12 months ended December 2016 is ~USD 113Mn
Major push to deploy our leading Agriculture Technology portfolio: Observant, Puresense, Gavish amongst other JISL product offerings
Existing management of AVI and IDC to drive future growth
