Greenyard subject of takeover offer by Deprez family founders

The founders of the Deprez family in the group of fruits and vegetables in Belgium launch an offer to acquire the works listed in Brussels.

Hein Deprez and his family currently holds 37.7 % of shares in Greenyard and seek an additional 57.73 % of the company’s shareholders at 7.40 euros ($ 8.43) each – intended offer – through about 29.74 million shares.

A new holding company has been created for this process, a garden based in Luxembourg, which will include the current stocks of the Deprez family and those that were purchased through the show.

As of the Greenyard statement on April 11, the Deprez family will be the “only shareholder” in Garden.

They will be supported in their intention by Solum Partners, Director of investment in the Food and Agriculture Industry in Massachusetts.

Solum will provide funding for stocks, if he succeeds, and will become a “joint controlled contributor” to post -garden treatment with the Deprez family.

“The Deprez and Solum family, through the intended offer, seeks to support Greenyard to achieve its strategic priorities by enhancing the stability of the capital base through the long -term capital,” according to the statement.

The stock offer was approved by the Greenyard Council, which “unanimously supports and recommends the intended offer”, taking into account the final conditions and organizational approvals.

Provided that 95 % of the shares of Greenyard- Bid will be 57.73 % and the DEPREZ family, which is 37.7 %-a garden after that, will exercise the so-called “pressure” for the rest of the business.

“Taking into account our comprehensive evaluation of the leaflet that will be presented and the independent expert report, the board of directors evaluated the offer and unanimously decided to support it,” said QRINYARD, Chairman of the Board of Directors.

“We, as the Board of Directors, believe that the offer reaches the interest of both the company and the stakeholders.”

Mr. Deprez established what was at the time in 1987 before the company became Greenyard. In 2015, the merger between Greenyard, Univeg and Agribushing Peatinvest appeared, where Hein Deprez has shares in each of these companies before completing the deal.

Under previous notifications, Greenyard seeks to reach 5.4 billion euros in annual sales by March 2026, as well as the modified EBITDA print from 200 to 210 euros.

In the first half of the company’s current fiscal year, sales increased by 6.1 % to 2.6 billion euros, led by 2.4 % pricing, or the so -called Greenyard as “inflation compensation measures”. 2.9 % sizes rose.