Amsterdam, 18 February 2010 - Dutch investment company H2 Equity Partners B.V. (“H2”) will acquire the leading international flower and potato breeder Kirin AgribioCompany, Limited and Kirin Agribio EC B.V. (collectively “Agribio Group”) from Japanese listed Kirin HoldingsCompany, Limited (“Kirin”), both companies announced today. Kirin Agribio Group owns leading breeders such as Fides, Barberet & Blanc and Germicopa. Post-acquisition, the group with annual sales of around €120 million, will expand its global business. H2 has signed the purchase agreement and expects closing of the deal in March of this year. H2 is poised to further leverage the leading position of Agribio Group via the introduction of new varieties and add-on acquisitions.

Following a thorough assessment, H2 concluded that Agribio Group is particularly well positioned to expand its current leadership in a number of flower and potato varieties, given its exceptional knowledge base. Over the years, Agribio Group has demonstrated the ability of market orientated breeding through cutting-edge R&D. On this basis the group has become a world market leader in different products such as Chrysanthemum, Kalanchoe, Carnations and seed potatoes. Kirin decided to divest the Agribio Group as part of its continuous business portfolio realignment.

 

H2 sees potential to transform Agribio Group into a larger integrated group with stable growth and increased profitability, thereby ensuring long-term continuity. “We see exciting opportunities, given the current market dynamics”, says Peter Kroeze partner of H2 Equity Partners. “We seized the opportunity to acquire Agribio Group as it is a knowledge intensive breeder that is very well positioned to unlock the full potential that this business offers. Together with management we will actively pursue product development, strategic partnerships and add-on acquisitions.”