Graines Voltz, a French floral and vegetable seeds distributor, signed an agreement with BASF to buy its HILD Samen business in Marbach, Germany. Currently, 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. Financial details of the transaction are not being disclosed.
“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,“ said Serge Voltz, CEO of Graines Voltz. “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.
Pending customary closing conditions, closing is anticipated in the second quarter of 2020.
For more information:
www.graines-voltz.com
www.agriculture.basf.com