The Israeli water company Netafim, a global leader in irrigation technology, recently acquired a majority share in the Cosa Rican irrigation firm RyM in order 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.”

(via Israel21c)

[Photo: worldwaterweek / Flickr ]