Temasek to acquire majority stake in Israeli micro-irrigation firm Rivulis

SINGAPORE state investor Temasek has signed an agreement to acquire a majority stake in Rivulis, an Israel-headquartered provider of global micro-irrigation products and solutions.

The acquisition, which is subject to government authorisation, is expected to be completed in Q4 2020, the companies said in a joint statement on Tuesday.

Temasek's US$214 billion portfolio includes significant exposure to the agribusiness space, as well as a focus on sustainable living, which is core to Rivulis's business, they added.

Rivulis chief executive Richard Klapholz said micro-irrigation is a "transformative technology" offering the only viable solution to water scarcity and the resulting global food constraints.

He added that the company was thrilled to have Temasek, which is focused on investments addressing global sustainability challenges, as its largest shareholder.

Rivulis, which has 2,000 employees, was set up in 1966 and represents the successful integration of four industry pioneers and veterans: Plastro, T-Systems, Roberts Irrigation and Eurodrip.

A NEWSLETTER FOR YOU

Friday, 8.30 am

SGSME

Get updates on Singapore's SME community, along with profiles, news and tips.

Sign Up

The company innovates and deploys smart micro and drip-irrigation solutions, which it says help growers achieve higher yields and higher quality while safeguarding the sustainability of grower land and livelihood.

It has over 3,300 business partners worldwide, including individual growers and large corporate plantations in the agriculture, horticulture, greenhouse, landscape and mining industries.

It boasts 16 factories across 14 countries, five design centres globally, and three research and development centres in the agricultural hotspots of Israel, California, and Greece.