Origin Enterprises has announced the sale of its Belgian fertiliser business, Pillaert-Mekoson, to Brokking group for €15.5m. The company had acquired Pillaert-Mekoson in 2018 and the said the reason for its exit was that Origin had hoped to make further acquisitions to consolidate the Belgian market, but has been unable to do so and hastherefore decided to withdraw.

Origin Enterprises is primarily a seed, fertiliser and crop protection business, with annual turnover of €1.6bn and profits of €44.1m and a presence in seven countries. It is listed on the Dublin stock exchange and the share price dropped to €3.29 following the announcement, before recovering to €3.33 by lunchtime on Thursday.