The German breeder and young plant producer Dümmen has successfully merged with Netherlands-based vegetation breeder and propagator Agribio Group to form DNA Green Group, with an annual turnover of US$228 million. The merger is in response to the rapidly changing business environment in the global floricultural industry. The Dümmen family, management and Agribio Group sponsor H2 Equity Partners are the new company’s shareholders.
Agribio Group is active in 56 countries and trades over one billion cuttings per year. The group includes top breeding companies such as Fides, Ecke, Japan Agribio, Barberet & Blanc, Bartels Stek and Lex+.
Founded in the late 1960s, Dümmen has grown to be one of the leading young plant producers and breeders of bedding plants and poinsettias in the world. Its key markets are Europe and North America, with production facilities in Germany, Costa Rica, El Salvador, Ethiopia and Italy.
Oaklins' teams in the Netherlands and Germany worked closely to provide the best possible M&A advice to Dümmen in this complex cross-border transaction.
Tobias Dümmen, CEO of Dümmen and the new Dümmen division of the combined company, said: “Dümmen has a longstanding relationship with Oaklins' team in the Netherlands from earlier transactions in the floricultural sector that they advised on. We involved the Dutch and German teams in our family discussions and decided to look for a partner that would help us play a leading role in the ongoing market consolidation and also make a generation change possible. After thorough preparation, discussions started with Agribio Group. The resulting merger creates substantial synergies and enables our family’s continued commitment to the floriculture sector.”
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