Tether, the top stablecoin issuer globally, has acquired a controlling stake in Adecoagro (NYSE:AGRO), according to a company statement.
Tether purchased a 70% equity stake in Adecoagro, a Latin American company in the sustainability and agriculture sector.
Adecoagro currently has a market cap of around $934 million. The company produces food as well as renewable energy. Regarding energy, Adecoagro produces bioethanol and bioelectricity.
For the full year of 2024, Adecoagro reported $1.476 billion in sales and net income of $2.02 a share or $202 million.
In February 2025, Adecoagro revealed an unsolicited offer from Tether. At that time, Tether bid $12.41 per share, seeking 51% of the company. Official negotiations commenced on February 25, 2025. Tether will now acquire 49.6 million shares at $12.41 per share.
Tether began working with Adecoagro by investing $100 million, purchasing a 9.8% stake in the company in September 2024. Ostensibly, the goal was to scale RWA production, leveraging the expertise of the digital asset platform.
Tether said its long-term strategy is to become a key player in global, real-world infrastructure.
Paolo Ardoino, CEO of Tether, said by aligning with Adecoagro’s experience in ag and renewable energy they are taking a concrete step toward bridging traditional industries with decentralized finance and “economic empowerment.”
Adecoagro’s co-founder and CEO Mariano Bosch said the investment is a turning point for the firm.
“Their commitment to building sustainable infrastructure complements our mission and opens exciting new possibilities. I thank our departing Board members for their steadfast contributions and warmly welcome the incoming directors, whose experience will help propel us forward.”
Following the acquisition, Adecoagro’s Board of Directors will change to reflect the company’s new ownership structure. Five board members will step down, including Ana Cristina Russo, Guillaume van der Linden, Alan Leland Boyce, Andres Velasco Brañes, and Plinio Musetti. They are replaced by new Executive Chairman Juan Sartori, Christian De Prati, Andres Larriera, Kyril Robert Leonid Louis-Dreyfus, and Oscar Alejandro León Bentancor, who join continuing members Manuela Vaz Artigas, Ivo Andrés Sarjanovic, Daniel González, and Mariano Bosch.
The full Board will be confirmed at the General Shareholders’ Meeting on June 6, 2025.
Tether, which dominates the dollar-based stablecoin sector with USDT, appears to be diversifying its operations as it anticipates more competition in the stablecoin market. As new rules are being developed around the world, including in the US, expectations are for more entries into the digital currency sector.
