AgTech Leader Netafim to Acquire Dutch Greenhouse Company Gakon Horticultural Projects to Meet Growing Demand for Local Food Production in All Climates

TEL AVIV,Israel,March 8,2021 -- Netafim,the global leader of precision irrigation solutions and agricultural projects,today announced that it has signed a definitive agreement to acquire Dutch turnkey greenhouse projects provider Gakon.

Netafim has been active for several decades in the greenhouse market and is now expanding its offering in the production and supply of top-tier greenhouse projects to meet the increasing demand for the most advanced farming methods. Driven by growing populations,the call for sustainable agriculture and increasing concern over food security there has been a surge of interest in locally grown fresh produce. Netafim will provide growers with a comprehensive offering of the best greenhouse technologies,structures,irrigation,fertigation,and crop growing expertise as well as other ag related services to enable farmers to maximizeproductivity and efficiency in all climate conditions.

The acquisition is synergetic,combining Netafim's global presence and expertise in precision agriculture and Gakon's advanced greenhouse technology.

With 56 years of agricultural project experience and array of advanced irrigation technologies utilized in 80% of the world's professional high-end greenhouses,Netafim is well-established as a leading player in global agriculture technology. Gakon brings unique expertise in all aspects of greenhouse project execution,glasshouse manufacturing capabilities,and a proven track record in key markets. The expanded offering leverages Netafim's capacity as a holistic destination for the increasing numbers of growers of year-round crops and farm-to-table local produce.

"Greenhouse projects were already a strategic priority for Netafim,with Covid-19 further validating the importance of food security and a local fresh supply. We are delighted to join forces with Gakon to enhance our in-house greenhouse related capabilities,including production,and provide local farmers and growers across the world with greenhouse solutions and services that will support both farmers and local food security," said Gabriel (Gaby) Miodownik,Netafim CEO.

"Teaming up with Netafim unlocks a world of opportunities for us," said Pieter van Berchum,Director of Gakon. "We are excited to be able to apply our deep knowledge and skills of greenhouse horticulture to new markets and be part of a group that is set to drive forward sustainable and profitable crop production."

About Netafim

Netafim is the world's largest irrigation company and the global leader in precision irrigation solutions committed to fighting scarcity of food,water,and land,for a sustainable future. With 33 subsidiaries and 17 manufacturing plants worldwide,Netafim offers innovative,tailor-made irrigation and fertigation solutions to millions of farmers from smallholders to large-scale agricultural producers,in over 110 countries.

Founded in 1965,Netafim pioneered the drip revolution,creating a paradigm shift toward precision irrigation. Today,the company specializes in end-to-end solutions from the water source to the root zone,and offers a variety of irrigation,open field and greenhouse projects,as well as landscaping and mining solutions supported by engineering,project management and financing services. Netafim also leads the way in digital farming,having integrated real-time monitoring,analysis,and automated control into one state-of-the-art system.

In 2017,Orbia acquired 80% of Netafim,while Kibbutz Hatzerim holds the remaining 20%. Netafim is part of the Orbia community of companies,working together to tackle some of the world's most complex challenges.

About Gakon

Gakon Horticultural Projects is one of the leading companies in the world for producing,supplying,building,and servicing high quality turnkey horticultural projects. With 70 years of experience,Gakon has been managing projects from ideation to completion. In their headquarters with integrated production based in Westland,Netherlands,Gakon produces their own greenhouses.

See how Netafim's solutions are changing the economics of agriculture and helping the world Grow More with Less™ at www.netafim.com.