Capital increase for Biobest is leverage for further growth

Added on 06 February 2023

Tags

Capital increase for Biobest is leverage for further growth

Biobest and Floridienne have reached an agreement with Sofina, and several private investors, to increase the capital of Biobest by a minimum of €98.5 million. These funds will allow Biobest - world player in biological control and pollination - to pursue its ambitious strategy of organic growth and acquisitions.

As the next step in its strong growth programme, Biobest has managed to enthuse numerous investors. Initially, Biobest's capital will be increased by €98.5 million. This money will mainly come from existing shareholder Sofina and some private investors. Depending on the available acquisitions, in the short term this capital could be further increased to €120 million.

Following this capital increase, Floridienne's stake in Biobest will be 79.00% (compared to 86.79% on 31 December 2022). Following the transaction, the remaining Biobest shares will be held by Mérieux Equity Partners, a shareholder since 2018, Sofina, some new private investors and Biobest management.

Biobest is very happy with the trust of its existing shareholders and the entry of some private investors. “This capital increase allows us to consolidate our growth by continuing – in addition to organic growth – multiple strategic acquisitions,” says Jean-Marc Vandoorne-Feys, CEO of Biobest. “This brings us another step closer to our ambitious goal: to offer qualitative and complete solutions in the field of integrated biological pest management to growers worldwide.”

This capital increase is expected to materialise within 4 weeks after the required legal documentation is finalised and some other customary conditions are met.

For more information, please contact lise.verachtert@biobestgroup.com.

FLORIDIENNE is a Belgian industrial group listed on Euronext Brussels that holds leading positions in Europe or worldwide in niche markets. Its activities are focused on three sectors: Life Sciences, Festive Food and Chemicals.

SOFINA is a Belgian family investment company listed on Euronext Brussels and controlled by the family members of Gustave Boël. It is active in Europe, Asia and the United States, in four main sectors: consumer goods and services, education, digital transformation and healthcare.

BIOBEST is a global player in integrated biological pest and disease control and bumblebee pollination of high value greenhouse and berry crops. Today our product portfolio features a comprehensive range of IPM solutions - including beneficial insects, predatory mites, bumblebees, insect pathogenic nematodes and biopesticides as well as monitoring, scouting and pheromone products. Biobest has local production and/or distribution subsidiaries strategically sited in over 22 countries worldwide, plus an extensive network of local specialised distributors located in an additional 50 countries on six continents.

Source: