Case study

Monaghan Middlebrook Mushrooms has acquired Walkro International BV

Monaghan Middlebrook Mushrooms Ltd. (Monaghan), the Irish producer and supplier of fresh mushrooms, and Gimv N.V., the listed Belgium-based investment company, together with the management team, have acquired Walkro International B.V. (Walkro) from Bencis Capital Partners B.V. and other shareholders for an undisclosed consideration.

Monaghan Middlebrook Mushrooms was established in Ireland in 1981 and has grown into one of the world's leading mushroom producers supplying a full range of fresh mushrooms to leading national and international retailers in the UK, Ireland, Canada and the United States.

Along with Monaghan Middlebrook Mushrooms, equity was provided by Gimv N.V., an independent investment company listed on Euronext Brussels. Gimv specialises in private equity and venture capital, focusing mainly on the European market. Debt packages were provided by ING Bank and Rabobank.

Walkro produces substrate for mushroom cultivation. Based in Venlo, the Netherlands, the company has additional production facilities in Belgium and Germany. Under the terms, Walkro will continue to operate as an independent unit within the Monaghan Group, led by its existing management team.

Oaklins' teams in Ireland and the Netherlands advised Monaghan on this transaction. Their key role was structuring the deal and arrange funding by finding the right private equity partner.

Tombstone image for Monaghan Middlebrook Mushrooms has acquired Walkro International BV

Key deal contacts

Ted Webb

Ireland

Managing Director

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Maarten Wolleswinkel

Netherlands

Partner

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