After its insolvency in May this year, the day to day management of German substrate manufacturer Terracult has come back into the hands of its founder and previous owner Rainer Lindner. The returning managing director announces that he has joined the Aquarius Limited Group (AQL) who recently acquired the company, brand and took over the employees to found Terracult International GmbH (TCI).
Lindner founded Terracult more than 20 years ago. The company was one of the leading horticultural substrate suppliers with a dominant market presence. In 2013 Lindner sold his company to the young management company Quadruple International. “My intention was for the younger management to continue the successful development and high reputation of my former company. Unfortunately, I soon observed that most of the pre-scheduled, new projects that were supposed to take place were not being carried out as planned. The absolute standstill and the misappropriation of important capital finally led to Terracult GmbH insolvency in early May 2017”, Lindner said in a statement.
As a result, Terracult’s partners and customers had to find substitute suppliers for the 2017 season and some suffered losses in the transition. Lindner: “In facing the above process, much trust has been lost with old-established, former partners and the Terracult brand. I observed this from a distance with great personal pain as Terracult GmbH lost valuable, long-standing employees who together with me had successfully built up the Terracult company, brand, trust and reputation” said Lindner.
Lindner stresses out that Terracult will be able to continue its activity at full strength again. “After this year‘s harvest has been completed with satisfactory quantities in the Baltic States, we will be able to coordinate delivery quotas, qualities, and for you as customers, the best possible prices together with our partners in Latvia, Lithuania and Belarus.
Lindner invites everyone to visit their booth at the 2018 IPM Essen to share information on TCI new plan, strategy and concrete plans.