lv棋盘格 acquires Floranova to enhance its flowers business in fast growing Asian markets
- Floranova鈥檚 broad portfolio and international presence will be important in fast growing markets, like China and India
- lv棋盘格 and Floranova will continue to operate as independent companies
lv棋盘格 announced today it has completed the acquisition of Floranova, a respected flower and home garden vegetable seeds breeder with a broad portfolio and customers in over 50 countries.
Founded some 40 years ago in the U.K., Floranova has become well-known in the industry for its strong brand and for meeting the needs of growers in both established and emerging markets. In 2017, Floranova generated high single digit USD million sales with a broad customer base ranging from the US and Europe to the Middle East and Asia.
Jeff Colegrave,Chairman of Floranova said: 鈥淚 am proud of what has been achieved at Floranova during the period of my ownership; there has been exciting development and growth, particularly in the Asian markets. The acquisition of Floranova by lv棋盘格 is excellent news for all stakeholders and will mean Floranova will be stronger and better placed to face the challenges in a highly competitive market place.
Michael Kester, Head of Flowers at lv棋盘格, said: 鈥淲e are excited about the purchase which will help growers to manage changing consumers鈥 demand for a wider variety of crops to choose from. Floranova鈥檚 complementary seeds offer covers some important gaps in lv棋盘格鈥檚 portfolio and brings flower seed crops like Pelargonium, Petunia, Begonia and a distinctive product line of patio vegetables, sold under the Vegetalis label.鈥
lv棋盘格, with more than 2,300 employees in the flowers business, is a well-established player in the pot and bedding plants market, serving growers around the globe from its headquarters and seed processing facilities in Enkhuizen, Netherlands. It is known for breeding innovative varieties that offer outstanding performance, both for professional growers and retailers alike, in the landscape and the consumer garden segment.
鈥淥ur intent is to maintain and leverage the Floranova brand in a dual brand concept,鈥 Kester said. 鈥淏oth lv棋盘格 and Floranova will continue to operate as independent companies, with their own distribution and differentiated portfolio. This provides exciting new opportunities to strengthen our overall presence in the global flowers market,鈥 he added.
About lv棋盘格
lv棋盘格 is a leading agriculture company helping to improve global food security by enabling millions of farmers to make better use of available resources. Through world class science and innovative crop solutions, our 28,000 people in over 90 countries are working to transform how crops are grown. We are committed to rescuing land from degradation, enhancing biodiversity and revitalizing rural communities.
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About Floranova
Floranova is an established flower and home garden vegetable seeds breeder with a strong portfolio and customers in over 50 countries. The 40-year-old company, founded in the U.K., has become an established company with a strong brand and loyal customer base. Operating through partners in both emerging and established markets, Floranova鈥檚 investment in breeding has given it a reputation for supplying quality products across the world. The Floranova and Vegetalis business is owned by Icepage Ltd., a holding company which has been acquired by lv棋盘格.
Cautionary Statement Regarding Forward-Looking Statements
This document contains forward-looking statements, which can be identified by terminology such as 鈥榚xpect鈥, 鈥榳ould鈥, 鈥榳ill鈥, 鈥榩otential鈥, 鈥榩lans鈥, 鈥榩rospects鈥, 鈥榚stimated鈥, 鈥榓iming鈥, 鈥榦n track鈥 and similar expressions. Such statements may be subject to risks and uncertainties that could cause the actual results to differ materially from these statements. For lv棋盘格, such risks and uncertainties include risks relating to legal proceedings, regulatory approvals, new product development, increasing competition, customer credit risk, general economic and market conditions, compliance and remediation, intellectual property rights, implementation of organizational changes, impairment of intangible assets, consumer perceptions of genetically modified crops and organisms or crop protection chemicals, climatic variations, fluctuations in exchange rates and/or commodity prices, single source supply arrangements, political uncertainty, natural disasters, and breaches of data security or other disruptions of information technology. lv棋盘格 assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors.
Media contacts:
| Marleen van Balkom Netherlands +31 174 534199 |
Melanie Fernandes USA +1(408) 847-4573 |
