The acquisition allow Graines Voltz to continue moving up the value chain by acquiring a portfolio of high-quality seed varieties.
Graines Voltz, a leading French floral and vegetable seeds distributor has signed a pact with BASF to buy its HILD Samen business in Marbach, Germany. Presently, it is part of the vegetable seeds business of BASF’s Agricultural Solutions division. The HILD portfolio divestiture includes its seeds business and also intangible assets, particularly customer lists, intellectual property, breeding activities, and the HILD brand. The local infrastructure, however, will remain with BASF. The financial details of the transaction have not been disclosed.
Serge Voltz, CEO of Graines Voltzs 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”. He added that “It is so far the largest acquisition carried out by our company. This allows us to continue moving up the value chain by acquiring a portfolio of high-quality seed varieties.”
The acquisition, accretive for Graines Voltz, will be financed by the Group’s available cash and by a bank loan.
“The divestment of the HILD Samen business allows us to focus on the establishment of a European competence center for organic seeds at the site facilities in Marbach and to increase the existing processing capacity in corn salad,” said Vicente Navarro, Senior Vice President of BASF’s vegetable seeds business.
Vicente Navarro, Senior Vice President of BASF’s vegetable seeds business said, “The divestment of the HILD Samen business allows us to focus on the establishment of a European competence center for organic seeds at the site facilities in Marbach and to increase the existing processing capacity in corn salad”.
