Marex acquires Arfinco S.A.February 2, 2022
Marex has today announced the completion of the acquisition of Arfinco S.A., one of Europe’s leading agricultural brokers.
Arfinco is one of the largest brokers of exchange-traded European grains, as well as covering US and Canadian markets. The company provides trade execution services for commodities futures and options across Euronext, CME CBOT and ICE markets.
Founded in 2006 in Versailles, France, by Philippe Pierre and Bruno Chatenet, Arfinco’s broking clients include some of Europe’s largest commercial and non-commercial market participants, with a strong focus on French commercial customers. Marex has been working with Arfinco for over 16 years, acting as the executing broker for many of its clients.
As part of Marex, Arfinco joins the global Agricultural franchise under Jonathan Parkman, Head of Agriculturals Sales. This business is one of the largest, most experienced and best-known agricultural brokers in the world. Its key product offerings and services include specialised execution, extensive clearing, deliveries and research across coffee, sugar, cocoa and grains markets.
Arfinco clients will gain access to a broader range of services and products, while Marex opens-up an all-important local presence in France, which is one of the largest producers of grains in Europe, responsible for approx. 20-25 per cent of all cereals produced in the EU. (source DG AGRI, European Commission).
This is just the latest in a series of successful Marex acquisitions that have included the Paris and London-based commodity derivatives business, Volcap Trading, execution-only physical oil broker Starsupply, equity derivatives firm XFA in Chicago, recycled metals market-maker Tangent Trading in London, and equity volatility market maker, BIP Asset Management in Paris. Marex has consistently demonstrated success in growing acquired firms and improving earnings from acquisitions.
Ian Lowitt, Marex’s Chief Executive Officer, commented: “Arfinco is an exceptional strategic fit for Marex in Europe. This adds a successful execution business in agriculturals that augments our existing market making capabilities in this space.”
Bruno Chatenet, co-founder of Arfinco, added: “This is an exciting development for Arfinco. Philippe and I have worked with Marex for over a decade. We know the teams and we know the culture. This move makes sense for our clients and for our business, as we look to build even greater market share and allows us to expand our services.”