Spain: Sale of Planasa authorised

The National Commission on Markets and Competition (CNMC) has authorised the acquisition of the Navarrese company Planasa, specialised in plant innovation, nurseries and fruit production, by the risk capital investment company Cinven and Dareva for 450 million Euro.

Cinven notified the Commission on 20 December about this acquisition, which has been authorised by the body chaired by José María Marín Quemada on 10 January, according to the records of the CNMC.

Based in Valtierra, Navarre, Planasa is one of the main operators in the development of new plant varieties and nurseries in the red fruits category worldwide. The company offers seeds, plants and R&D services to producers and distributors around the world.

The group has achieved considerable growth in the markets where it operates, driven by the boom in health trends and the increase in the global consumption of red fruits. With 2,080 employees worldwide, Planasa supplies its products from twelve production areas located in Europe, America and Asia to its customers around the world.

The objective of Cinven, which has a stake in three other Spanish companies (Tinsa, Ufinet and Hotelbeds), is to boost Planasa's growth both organically and inorganically.

Source: elespanol.com