Lavoro Closes Acquisition of Referência Agroinsumos

Acquisition strengthens Lavoro’s brand and presence in Brazil

SÃO PAULO, Brazil, Aug. 01, 2023 (GLOBE NEWSWIRE) -- Lavoro Limited (Nasdaq: LVRO; LVROW), the first U.S.-listed pure-play agricultural inputs distributor in Latin America, announced today the successful completion of its acquisition of a controlling interest in Brazil-based Referência Agroinsumos.

Founded in 2006, Referência has nine retail locations in the state of Rio Grande do Sul (South of Brazil), and 26 technical sales representatives (RTVs) serving approximately 2,000 customers. Referência’s sales mix is largely composed of crop protection and seeds, complemented by a comprehensive portfolio of granulated fertilizers and specialty products. We believe Referência is one of the main distributors of hybrid rice seeds in the state, via its partnership with Ricetec, one of the largest seed producers in the world.

“We are thrilled to welcome Referência to the Lavoro family. This transaction marks our second acquisition in the state of Rio Grande do Sul, where we already operate through subsidiaries Casa Trevo and CATR. We believe that this is a great fit for Lavoro, as it further strengthens our brand and presence in Brazil,” said Ruy Cunha, CEO of Lavoro.

About Lavoro

Lavoro is Brazil's largest agricultural inputs retailer and a leading producer of agriculture biological products. Lavoro’s shares and warrants are listed on the Nasdaq stock exchange under the tickers "LVRO" and "LVROW." Through its comprehensive portfolio of products and services, the company empowers small and medium-size farmers to adopt the latest emerging agricultural technologies and enhance their productivity. Since its founding in 2017, Lavoro has broadened its reach across Latin America, serving 72,000 customers in Brazil, Colombia, and Uruguay, via its team of over 1,000 technical sales representatives (RTVs), its network of over 210 retail locations, and its digital marketplace and solutions. Lavoro’s RTVs are local trusted advisors to farmers, regularly meeting them to provide agronomic recommendations throughout the crop cycle to drive optimized outcomes. Learn more about Lavoro at ir.lavoroagro.com.