Nordian sells Chrysal International to trade

The sale ends a holding period of four years for Nordian, after it acquired Chrysal shortly after spinning out of Rabo Bank and launching its €300m buyout vehicle Nordian Fund II.

Nordian launched the sale in September and was expecting the asset to generate €10m EBITDA from sales of €50m for 2018, according to Unquote sister publication Mergermarket.

OAT will help Chrysal to further strengthen its market position by adding new products to its portfolio and supporting the development of new products and concepts, according to a statement. The publicly traded Japanese agrichemical company employs 381 people.

Previous funding
Nordian acquired Chrysal from Swedish investment company R12 Kapital in November 2014.

Company
Chrysal was originally founded in 1929 and merged with a plant food company, Pokon, in the 1950s. The merged companies (together named Pokon & Chrysal) then joined with Swedish company Vitabric in 2007, before Pokon was sold to Synergia Capital Partners in September of that same year. Chrysal then became Chrysal International.

Headquartered in Naarden, Chrysal is a producer of flower care products for cut flowers. The company has a range of products, including post-harvest treatments, flower food and foam wraps for transportation. It employs 235 people at its operations in the UK, the Netherlands, France, Sweden, Germany, Russia, Kenya, the US, Colombia, Ecuador and Japan.

People
OAT Agrio – Akihei Mori (CFO).
Chrysal International – Peter Vriends (CEO).

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