Lavoro Completes Acquisition of Coram

Coram reinforces Lavoro’s presence in the states of São Paulo, Minas Gerais and Goiás

SÃO PAULO, Brazil, Dec. 27, 2023 (GLOBE NEWSWIRE) -- Lavoro Limited (Nasdaq: LVRO), the first U.S.-listed pure-play agricultural inputs retailer in Latin America, today announced the acquisition of a controlling interest in Coram Comércio e Representações Agrícolas (“Coram”), an ag retailer based in Ituverava (State of São Paulo).

This acquisition of Coram, a respected player in the agricultural inputs market since 1973, significantly strengthens Lavoro's operations in São Paulo, Minas Gerais, and Goiás, and bolsters its exposure to the sugarcane sector.

Founded in 1973 by César Luiz Mendonça, the retailer boasts 10 retail locations, more than 50 employees, and serves approximately 1,200 customers across these three states.

Ruy Cunha, CEO of Lavoro, expressed enthusiasm about the acquisition: “We are delighted to welcome Coram into the Lavoro family. Their half-century legacy, solid reputation with the farmer communities they serve, and robust market presence in São Paulo, Goiás, and in the south of Minas Gerais complements well our existing footprint in the region. We expect the combination with Lavoro will bring additional value to Coram’s existing client base, with the expansion of its product portfolio and addition of new value-add services.”

About Lavoro 

Lavoro Limited 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.