The BASF Group announced this morning the sale of its HILDS Samen business portfolio in Germany to the Voltz Seeds Group. We would therefore like to inform you more about this transaction and its likely consequences.Trade in BASF shares!
HILD Samen's activities relate to the vegetable seed products of BASF's Agricultural Solution division and the divestiture we are discussing today relates to the intangible assets of this subsidiary, including the customer portfolio, intellectual property, breeding, inventories and the HILD brand. The local infrastructure is therefore expected to remain the property of BASF.
No further financial details have been disclosed by the two companies at this time.
However, the Vice President of BASF's Vegetable Seeds business spoke about the transaction this morning and said : "The sale of the HILD Samen portfolio allows us to focus on our new strategic approach to establish a European competence centre for organic seeds in Marbach, Germany, and to increase the process capability in lamb's lettuce seeds".
Of course, it will now have to await the approval of this transaction by the competent authorities as well as the lifting of the usual suspensive clauses before it can be finalised, probably in the second quarter of 2020.
In particular, we will await the conclusions of the Ordinary General Meeting to approve the 2018/2019 accounts of Graines Voltz, which will take place on Thursday, March 19, 2020.
HILD Samen is a supplier of conventional and organic vegetable seeds with more than 1,200 seed varieties in 60 vegetable species. It markets its products in Germany and the rest of Europe. It was acquired by the BASF Group in 2018.
As regards Graine Voltz, it is the French leader in the independent distribution of flower and vegetable seeds and seedlings. This group currently employs 270 people and has grown significantly since its launch in 1985, thanks in particular to the success of its wide range of more than 28,000 references, which is the highest diversity on the European market for professionals in the short distribution channels. It is thanks to its particularly rigorous organisation that the Graines Voltz group has been able to identify upstream the varieties that meet the new expectations of consumers and thus ensure quality control and total traceability in order to deliver its products in just-in-time.
The group is also benefiting in France from a growing demand from European consumers for diversified plants of diversified quality and preference from short circuits and thus wishes to internationalize its model. Indeed, Germany is currently the first market, just after France, for this group which is developing more and more rapidly there.