French agribusiness Groupe Roullier/Timac is set to take majority control of Grassland Agro, the Irish fertiliser company.

On Thursday, the competition authority was notified that Groupe Roullier/Timac wants to increase its stake in Grassland Agro. It is understood this will increase the French fertiliser company’s shareholding from 50% to a majority 75% stake. Groupe Roullier took an initial 50% stake in Grassland Agro in 2012.

Liam Woulfe, who is the managing director of Grassland Agro, will continue in this role and hold a minority 25% stake in the company.

Fertiliser

Grassland Agro imports and distributes circa 350,000t of fertiliser every year giving the company a 25% share of the 1.3m tonne fertiliser market in Ireland.

For 2018, Grassland Agro recorded sales of €116m and made operating profits of €6.2m. The business had a net asset value of €17.3m at year-end 2018. Grassland Agro employs 100 people and has fertiliser plants in Cork, Limerick and Slane, Co Meath.

In 2004, Groupe Roullier’s fertiliser unit, Timac, bought Albatross fertilisers in Wexford from the McDonagh family. The brand has since been sold to Grassland Fertilisers Kilkenny.