Agrogalaxy and Bayer announced the termination of the contract in the agricultural pesticide distribution segment.
The termination of the partnership was attributed to the different business strategies adopted by the two companies, signaling a change in direction in market approaches.
With the end of part of its contractual obligations, Agrogalaxy will no longer operate with Bayer's line of crop protection products in the regions of Paraná, São Paulo and Minas Gerais. These areas correspond to the operating zones of the branches Agro100 and Grão de Ouro Agronegócios and Grão de Ouro Comércio de Insumos, brands under the Agrogalaxy umbrella that worked directly in the distribution of these products.
Despite the termination of the partnership, both Agrogalaxy and Bayer highlighted that all adjustments and commitments still pending between the two companies will be honored. Furthermore, they guarantee that commitments previously established with their respective clients will not be affected, ensuring continuity and support.
On February 23, Valor reported that Agrogalaxy hired Banco Santander to act as financial advisor in a possible operation involving its seed business.
Today, Agrogalaxy was asked about the termination of the contract with Bayer as follows:
"(a) Is the termination of the contract due to problems related to payments?
(b) in this case, would the announcement of hiring Santander for matters related to seeds be a way of obtaining capital to honor commitments? "
Through its consultancy, the company informed that "AgroGalaxy's position to the market on the subject is what appears in the attached statement signed by the CEOs of both companies".
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Adriano Becker assumes the role after more than 11 years at the company, accumulating experience in several strategic areas; the company is one of the global leaders in the segment
