Adecoagro (NYSE:AGRO) announced today, December 15, 2025, the final completion of its acquisition of YPF S.A.'s 50% stake in Profertil S.A., the largest producer of granular urea in South America.
The successful closing makes Adecoagro the controlling shareholder of Profertil with a commanding 90% equity stake.
The remaining 10% is held by Asociación de Cooperativas Argentinas (ACA).
The transaction, valued at approximately $1.1 billion for Adecoagro’s total stake in Profertil (which included an earlier agreement to purchase Nutrien’s 50% stake), is expected to be a transformative milestone for the company.
The $1.1 billion acquisition was funded through a combination of existing cash reserves, a long-term credit facility, and proceeds from a recently completed $300 million equity issuance.
The equity raise, which involved the sale of 41,379,311 shares at $7.25 per share, saw significant commitment from major stakeholders.
Adecoagro’s controlling shareholder, Tether Investments, anchored the offering with a $220 million commitment, with management and "friends & family" contributing an additional $26 million.
Management expects the acquisition to substantially enhance the company’s scale, diversify its portfolio, and significantly boost its financial profile.
The combined entity is now projected to generate over $2 billion in annual sales and nearly double Adecoagro’s Adjusted EBITDA.
Profertil operates one of the most cost-efficient urea and ammonia complexes globally, with an annual capacity of approximately 1.3 million metric tons of urea.