FIMI quadruples investment on sale of Rivulis

• Published date: 13 December 2020
• Date: 13 December 2020
• Author: Shiri Habib-Valdhorn
• Publication title: Globes (Rishon LeZion, Israel)

The investment has been a huge success for FIMI, which bought Rivulis in 2014 (then called John Deere Water) for just $57 million. In 2015, FIMI sold a 15% stake in Rivulis for $34 million and in 2017 it merged Rivulis with Eurodrip, the world's fourth largest irrigation company, by reducing its stake to 60%. That deal made Rivulis the world's second largest irrigation company.

FIMI is now realizing its 60% stake at a company valuation of $450 million, thus quadrupling its investment.

Rivulis stated out as Plastro on Kibbut Gvat in the Jezreel...