Graines Voltz acquires BASF’s Vegetable Seeds & Agricultural Solutions Division
The acquisition will give Graines Voltz specific authorities, however, BASF will look out the local infrastructure for the division
source- Graines Voltz
Graines Voltz, a French floral and vegetable seeds distributor, has signed a pact with BASF to buy its Agricultural Solutions division, HILD Samen. Set up in Germany’s Marbach, HILD Samen is a part of the vegetable seeds business of BASF’s Agricultural Solutions division. The division’s diverse portfolio includes seeds business along with the intangible assets like customer lists, intellectual property, breeding activities, and the brand identity of HILD. The acquisition will give Graines Voltz specific authorities, however, BASF will look out the local infrastructure for the division. The financial details of the transaction, however, have not been disclosed yet.
Commenting on the acquisition, Serge Voltz, CEO of Graines Voltz said, “We are very pleased to make this acquisition which is fully in line with Graines Voltz’s strategic plan to develop our market share in the distribution of vegetable seeds throughout Europe.”
An accretive acquisition for Graines Voltz, the deal will be sponsored by a bank loan and the Group's remaining cash. Graines Voltz considers this deal as the largest acquisition carried out by the company so far. The company expects to continue moving up the value chain by acquiring a diverse portfolio of high-quality seed varieties.
While for BASF, the deal will allow them to focus on the establishment of a European competence center for organic seeds in Marbach to increase the existing processing capacity in corn salad, as told by Vicente Navarro, Senior Vice President of BASF’s vegetable seeds business. The deal is expected to be closed in the second quarter of 2020.
Graines Voltz employs a staff of more than 200 people and has a stronghold in the French market since its establishment in 1985. The company provides a wide variety of references and is known in the European market for its diversity of varieties that it provides to the farmers like market gardeners, horticulturalists and other communities. Graines Voltz is driven by the growing demand of consumers in Europe for high quality diversified plants. The company has the vision to export its model in Europe.