Fresh produce company Greenyard has agreed to divest its Netherlands-based mushroom processing business, Greenyard Prepared Netherlands.
Polish private equity firm Cornerstone Investment Management will purchase 100% of the shares of the business, in cooperation with European specialist financing provider Kartesia, for a value of €17 million.
Greenyard Prepared Netherlands operates from its facility in Velden and specialises in the processing and supply of freshly harvested mushrooms in cans and jars worldwide.
“With the divestment of Greenyard Prepared Netherlands, we have fully completed our transformation and we are now able to further accelerate on core activities around the globe, while continuously deepening our strategic relationships,” said Hein Deprez, co-CEO of Greenyard.
He added: “Cornerstone Investment Management has the clear intention to further develop the activities of Greenyard Prepared Netherlands and has ambitious growth plans, which will be instrumental for its success.”
Andrzej Klesyk, managing partner at Cornerstone Investment Management, said: “Greenyard Prepared Netherlands is a well-known player in the mushroom business and has state-of-the-art capabilities.
“We are looking to further invest in the company and continue to make it stronger, in a highly demanding market. This acquisition is just the first step in our long-term strategy.”
The deal is expected to close during the summer of 2021.
In 2018, Greenyard sold its horticulture division to Belgian investment group Straco for €120 million.
© FoodBev Media Ltd 2021
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