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.

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.