AgriFORCE has formed a joint venture with Agrigrada sarl, a Swiss management and consulting company.
The joint venture is expected to help AgriFORCE's in-progress acquisition plans. Under the agreement, AgriFORCE will have a controlling share of the joint venture.
Joining the joint venture as part of Agrigrada is Luc Boedt, PhD, a seasoned executive with extensive experience in the agriculture and pharmaceutical industries. Prior to Agrigrada, Mr. Boedt held senior executive positions at SocFin, a leading agribusiness company with operations in Africa, Asia, and South America. During his tenure at SocFin, he was responsible for overseeing the company's operations in several countries, including Ivory Coast, Ghana, Liberia, Guinea, Congo, Cameroon, Nigeria, Sao Tome, Sierra Leone, Indonesia, and Cambodia, and managed relationships with local governments and communities. Under his leadership, the company achieved significant growth in its African operations, with revenues increasing by over 50% and profits increasing by over 70% over the period. Mr. Boedt also played a key role in developing the company's sustainability strategy, which included initiatives to reduce water usage and increase biodiversity on its plantations.
Luc Boedt commented, "We are excited to partner with AgriFORCE to bring cutting-edge agroforestry technologies to Africa and Southeast Asia. This joint venture will allow us to leverage our experience in sustainable agriculture and work with AgriFORCE to develop new solutions that will benefit farmers and communities across the continent."
Ingo Mueller, CEO of AgriFORCE, added, "We are highly encouraged by this joint venture and believe it will help us maximize our acquisition strategy and accelerate the development of our business in Africa and Southeast Asia. Given Agrigrada's successful history and Luc's impressive background, we believe there are vast opportunities in the industry to leverage Agrigrada's expertise in sustainable agroforestry and bring cutting-edge technologies to farmers and communities around the world. We look forward to working closely with Luc and his highly skilled team."
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