In Ireland, Origin Enterprises plc acquired the Resterra Group for £11.4 million in cash with up to £4.8 million additional deferred compensation if specific profit targets are met. Based in the UK, Resterra operates under the Ag Space and IPF service brands and specializes in custom-developed precision agronomy applications. Currently supporting customers in the UK and Southern Africa, Resterra is developing partnerships in Ukraine and China.
Origin Chief Executive Officer Tom O’Mahony said, “Resterra is an excellent strategic fit for Origin, adding complementary expertise and strong brand reputation. Digital technologies have the potential to support the delivery of dynamic and highly customized crop management strategies to optimize gross margin at farm level. Resterra will enhance Origin’s service capability in existing and wider geographies.”
Resterra’s capabilities will complement the 5-year collaborative research partnership between Origin and University College Dublin to build data-driven advisory tools for rapid and localized crop technology transfer.