Italy: Verisem Distribution acquires Franchi Sementi

Franchi Sementi, an Italian specialty seed distributor and one of the oldest continuously operated independent seed companies in Italy, has opened its capital to acquisition by Verisem Distribution. Combining Franchi Sementi with Verisem’s distribution businesses will create a platform in the specialty seed packaging and distribution in Italy. Financial terms of the transaction were not disclosed.

Family-owned and operated since it was founded in 1783 and headquartered in Grassobbio, Italy, Franchi Sementi offers more than 750 different varieties of crops to customers located throughout Italy and Europe. Its varieties include vegetables, cereals, legumes, herbs, flowers and turf, as well as select hybrid varieties. The company operates from its production and warehousing facilities in Grassobbio within the province of Bergamo.

Following the close of the transaction, Mr. Giampiero Franchi will remain CEO of Franchi Sementi, assume the role of Head of Verisem Distribution and become a shareholder in Verisem’s parent company. Mr. Franchi will maintain a Directorship position, together with Giuseppe Tumedei (Verisem Europe CEO) and Stefano Loreni (Verisem CFO) on the Board of Directors of Verisem Distribution.

Philippe Rousseau, Global Chief Executive Officer of Verisem, said, “Combining Franchi Sementi with our Italian businesses will enable us to capture the significant growth opportunities in this key market segment providing increased varieties to our customers along with industry-leading service and support. One of the biggest benefits of this combination is welcoming Giampiero and the Franchi Sementi employees to the Verisem family. In particular, Giampiero’s experience, knowledge and commercial dynamism will enable us to capture additional share in this competitive market. We look forward to working closely with him and the rest of the Franchi Sementi team as we further our mission to provide differentiated, high quality seed offerings for specialist growers across Europe.”

Mr. Franchi, Chief Executive Officer of Franchi Sementi, said, “After operating as a family-run business for more than 200 years, we are pleased to have reached this agreement with Verisem, which will enable Franchi Sementi to succeed for years to come. As part of Verisem, we will have the resources, systems and capabilities we need to continue growing our business in today’s market. Our employees will continue to be instrumental to our business and we will continue working closely with our customers. Verisem has a strong footprint in Italy and knows our company well, having worked with us for many years. Together, we will build on the legacy my family created over seven generations.”

For more information:
Verisem
Rapenburgerstraat 179 K
1011 VM Amsterdam
The Netherlands
verisemseeds.com

Publication date :


Print   

Receive the daily newsletter in your email for free | Click here


Other news in this sector:


© HortiDaily.com 2018