Entry into the vegetable seeds business: KWS acquires Pop Vriend Seeds
Disclosure of an inside information acc. to Art. 17 MAR
KWS SAAT SE (ISIN DE0007074007)
Einbeck, June 19, 2019. Today KWS SAAT SE entered into a definitive agreement for the purchase of the vegetable seeds business operating under the 'Pop Vriend Seeds' brand. Pop Vriend Seeds is a family-owned, worldwide operating seeds breeding company for spinach, beans, red beet, and Swiss chard with headquarters in Andijk/NL. Under the "Pop Vriend Seeds" brand, the company sells vegetable seeds in over 100 countries. The agreed purchase price equals approx. 20% of the current market capitalisation of KWS SAAT SE.
Founded in 1956, the fast-growing company Pop Vriend Seeds generated revenues of around EUR 75 million in the 2017/2018 financial year with above-average profitability. The acquisition will strengthen KWS's future revenues and earnings growth and contribute to the achievement of its strategic goals.
The Executive Board