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VARIABLE INTEREST ENTITIES AND ACQUISITIONS | 12 Months Ended
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Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
VARIABLE INTEREST ENTITIES AND ACQUISITIONS | 16. VARIABLE INTEREST ENTITIES AND ACQUISITIONS Asset acquisitions On July 26, 2023, Forafric acquired 90% of Société Industrielle de Minoterie du Sud (“SIMS”), a soft wheat milling company with primary operations in Marrakesh, for cash consideration and noncontrolling interest in the amount of approximately $56 and the assumption of SIMS’ outstanding debts for $5,318. The transaction met the screen test and was accounted for as an acquisition of assets under U.S. GAAP. Accordingly, the acquisition cost was allocated on a relative fair value basis. FORAFRIC GLOBAL PLC AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) The following table represents the final purchase cost allocation: SCHEDULE OF BUSINESS COMBINATION ASSETS AND LIABILITIES
|  | Allocated cost |
Property, plant, and equipment |  | $ | 8,788 |
Intangible assets |  |  | 686 |
Right-of-use assets |  |  | 331 |
Inventories |  |  | 59 |
Accounts receivable |  |  | 28 |
Cash and cash equivalents |  |  | 7 |
Other liabilities, noncurrent |  |  | (2,328 | )
Accounts payable |  |  | (1,503 | )
Other payables |  |  | (694 | )
Total net assets acquired |  | $ | 5,374 |
Changes in non-controlling interest Acquisition of additional interest in Sanabil During 2023, the Company increased its ownership in Sanabil SA from 60% to 80% in exchange for the forgiveness of amounts due from the minority shareholders.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-5 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/805/tableOfContent + Details
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