Agri-services group Origin Enterprises has sold its Belgian fertiliser business Pillaert-Mekoson to Brokking Group for a total consideration of €15.5m on a cash free / debt free basis.
Origin said the proceeds from the sale will be used for general corporate purposes.
Brokking, through its Triferto fertiliser wholesaling business, operates across Germany, France and the Benelux region.
Origin's chief executive Sean Coyle said that since entering the Belgian market in 2018, the company had looked to acquire complementary businesses to add further scale to its fertiliser operations in the region.
"Without suitable consolidation opportunities we have therefore decided to exit this market, to focus on markets which offer greater growth potential," Mr Coyle said.
"We would like to thank the Pillaert team for their significant contribution to the group since acquisition and wish them continued success with their new owners," he added.