announced today the acquisition of a majority share in RyM, a leading Central American irrigation solutions provider. As a result of the acquisition, Netafim will establish a new subsidiary, Netafim Central America. 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.
Founded in 1989, 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. RyM focuses on irrigation projects mainly for sugarcane, pineapples, vegetables, coffee and bananas – Central America’s leading crops that are enjoying growing global demand.
According to the deal, Netafim will own 60% of RyM and subsequently establish Netafim Central America, making it the company’s 29th subsidiary. The global smart irrigation leader will jointly hold the subsidiary with RyM co-owners Alberto Arguello and Carlos Enrique Gonzalez.
“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.”
