Tether, the stablecoin behemoth, is pushing to expand its footprint in Latam with a diversified approach. The company has convened to purchase up to 51% of Adecoagro, a Latam agricultural giant that produces over 2.8 million tons of products. The deal, which would give Tether a majority stake, will be closed in an all-cash offer of over $600 million.

Read more: Make Farming Great Again: Tether Pushes for Majority Stake in Adecoagro

The purchase is part of a series of acquisitions made through Tether Investments, its capital arm that manages a fund of nearly $3 billion to expand Tether’s operations to other markets and industries.

Mariano Bosch, CEO and co-founder of Adecoagro, highlighted there was a tech common element between the two companies, even though they belong to two completely different industries. Bosch stated:

We produce food and renewable energy, which is associated with the traditional agricultural industry, but the adoption of cutting-edge technology is present in our four business segments and is a key factor in our strategy to be the most efficient producers.

Paolo Ardoino, CEO of Tether, remarked on the relevance of this acquisition and explained that it is part of the organization’s policy of backing innovation and productivity in emerging markets. “Our investment is aligned with Tether’s broader strategy of supporting infrastructure, technology, and businesses that promote economic freedom and resilience, especially in regions where these values ​​are most needed,” he stressed.

According to Bloomberg Linea, Tether will continue to pursue further investments in the agricultural field. The company would be already acquiring a stake at Bioceres, an Argentine biotech company that provides crop productivity solutions across 40 countries. With a weakened stock, Bioceres has a market cap of nearly $300 million, a price well within Tether’s reach for another takeover.

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