Cinven acquires agri-food business Planasa for €450m

According to a statement, the GP acquired a controlling stake for €450m and aims to strengthen the company's international expansion through a buy-and-build strategy. Cinven drew down capital from its sixth fund, which hit its €7bn hard-cap in June 2016.

Following the acquisition, the company's owner and CEO, Alexandre Darbonne, will continue to hold a minority stake.

Cinven currently has three portfolio companies in Spain, all bought in Q3 last year: fibre operator Ufinet, property valuation and advisory services group Tinsa and travel service Hotelbeds.

Company
Founded in 1973, Planasa specialises in plant research, nursery and fresh production, focusing mainly on berries. The business provides seeds, plants, and research and development services to farmers, besides producing proprietary varieties of species for retailers worldwide.

With 2,080 employees, the company is headquartered in Valtierra and has 12 production plans in France, Italy, Germany, Poland, Romania, Holland, Morocco, the US, Mexico, Chile and China.

People
Cinven – Jorge Quemada (partner).
Planasa – Alexandre Darbonne (CEO).

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• Buyouts
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