Yara International ASA (www.Yara.com), a global leader in plant nutrition headquartered in Oslo, Norway, announces that it has finalized an agreement to sell its majority stake in Yara Cameroon to NJS Group, which has been the minority shareholder since the company's inception in 1995.
Once this transaction is completed, NJS Group will become the sole shareholder of the company with a clear objective of optimizing its offerings for the agricultural sector, currently focused on controlled livestock development. To achieve this ambition, NJS Group has acquired the 65% stake held by Yara International France in the company.
Yara International ASA and the Noutchogouin family have been partners for over 25 years. Over the years, the two entities have worked closely together, leveraging their expertise and resources to drive innovation and foster positive changes within the industry. During this long period, their joint venture has undergone various name changes. In particular, the company Hydrochem became Yara Cameroon in 2004. The acquisition of the company's entire capital by NJS Group represents a strategic and natural evolution. This complete takeover of the company by its local historical minority shareholder paves the way for ambitious expansion projects.
Yara Cameroon makes a significant contribution to the country's agricultural productivity by importing and distributing its own NPK compounds and calcium nitrate fertilizers, ensuring high yields and high quality for food and export crops.
With a strong focus on agriculture, NJS Group has been renowned for over forty years for its implementation of sustainable agricultural practices supported by significant investments and efficient operations management. With its extensive presence covering not only Cameroon but also neighbouring countries in the CEMAC zone, NJS Group is well positioned to support food security, growth, and innovation in this key sector.
To strengthen their collaboration, Yara International ASA and NJS Group have concluded an exclusive distribution agreement for premium NPK fertilizers, YaraMila, and YaraLiva Nitrabor Calcium Nitrate. As a result, Cameroonian farmers and agricultural retailers are assured of future supply of these key products, guaranteeing their presence in the market and promoting sustainable agricultural production. As an essential part of this agreement, Yara International ASA will provide technical and operational support to NJS Group, ensuring a solid platform for future growth.
Yara International and NJS Group have always shared a common goal: to promote best agricultural practices and optimal fertilizer use to enhance crop productivity in Cameroon. By combining their expertise, resources, and networks, the two groups aim to strengthen fertilizer distribution, digital agricultural solutions, and future innovations to promote sustainable agricultural practices in Central and West Africa.
Here is an excerpt from a message by Luis Alfredo Pérez, Senior Vice President, Yara Africa, to the employees of Yara Cameroon:
"We warmly thank our colleagues at Yara for their tremendous contribution and significant efforts over the many years since the establishment of our company in Cameroon. We have always believed that NJS Group was the right partner, and we are delighted that they will now take the lead, with the support and guidance of Yara International ASA. I would also like to express my deepest gratitude to our distribution partners and stakeholders, whom we have had the honour of serving for the past 25 years, for their hard work and resilience in a complex and ever-changing environment. Thank you for reflecting our mission so well and providing Cameroonian farmers with the high-quality products and services they expect and deserve."
"Yara has always placed its employees at the heart of its decision-making process. With this in mind, we have ensured the future security of your jobs through the signing of a long-term exclusivity agreement that guarantees the sustainability of the company. In the coming months, we will support the employees through this transition," concluded Taz Hassim, HR Director, Yara Africa.
NJS Group commented, "We are delighted with this significant operation, solidifying a long-term partnership, and would like to extend our thanks to the employees of Yara Cameroon as well as the customers who have accompanied Yara Cameroon for many years. In line with our policy of excellence, NJS Group will continue Yara's strategy of supporting and advising farmers to continuously improve agronomic outcomes and promote new techniques, based on the significant agreement concluded today with YARA ASA. Similar to what the group has achieved in its historical activities in recent years, an investment program will be implemented in fertilizer distribution to fully benefit from the market's growth potential."
Distributed by APO Group on behalf of Yara International ASA.
