Graines Voltz to acquire HILD Samen business from BASF

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.

About Graines Voltz

Graines Voltz (GRVO) is a leading independent French distributor of floral, vegetable seeds and young plants. Family group led by Serge Voltz its founder, Graines Voltz employs 270 people and has experienced strong development since its creation in 1985. Its success is built on a very wide offer of 28,000 references, unique on the European market in terms of diversity of varieties, intended for professionals in short circuits (market gardeners, horticulturalists and communities). Leader in France, Graines Voltz, which is driven by the growing demand of consumers in Europe for highly quality diversified plants, coming from short circuits, with the ambition to export its model in Europe. Germany, its first market after France, is experiencing very fast development. Graines Voltz is listed on Euronext Paris (mnemonic code: FR0000065971). For more information: www.graines-voltz.com.

About BASF's Agricultural Solutions division

With a rapidly growing population, the world is increasingly dependent on our ability to develop and maintain sustainable agriculture and healthy environments. Working with farmers, agricultural professionals, pest management experts and others, it is our role to help make this possible. That's why we invest in a strong R&D pipeline and broad portfolio, including seeds and traits, chemical and biological crop protection, soil management, plant health, pest control and digital farming. With expert teams in the lab, field, office and in production, we connect innovative thinking and down-to-earth action to create real world ideas that work - for farmers, society and the planet. In 2019, our division generated sales of €7.8 billion. For more information, please visit www.agriculture.basf.com or any of our social media channels.

About BASF

At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. More than 117,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of €59 billion in 2019. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts (BASFY) in the U.S. Further information at www.basf.com.

Source: Goedemorgen