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InVivo digging into JardiLand: ceo
Posted on Friday, 10 November 2017 14:14
French agricultural cooperative InVivo has agreed to acquire JardiLand, a Paris-headquartered retailer of gardening and pet supplies, according to the buyer’s chief executive.
Reuters picked up on comments made by Thierry Blandinieres, when he told reporters terms had been reached by the companies.
However, he stopped short of saying how much the firm will pay for the business.
The deal will represent an exit for L-GAM, which paid EUR 35.00 million to acquire the company from French real estate investor Batipart in February 2014.
Reuters noted that InVivo will expand its existing gardening operations as a consequence of the deal; the firm will represent its third brand in the sector, after Gamm Vert and Delbard.
Talks have been underway between the two companies since late last month; on 26th October Les Echos reported that the pair were close to reaching an agreement which would result in the creation of a French market leader.
InVivo has already announced one other acquisition this year; in May it agreed to pick up Dutch wine wholesaler Baarsma Wine Group Holding from AAC Capital Partners.
Previous targets include Irish contract researcher Life Scientific, in which it purchased a 50.0 per cent stake in November 2014.
No financial details of either transaction were disclosed.
According to Zephyr, the M&A database published by Bureau van Dijk, there have been 14 deals targeting lawn and garden equipment and supplies stores announced worldwide during 2017 to date.
The most valuable of these involved a Slovenian company as HPS Investment Partners agreed to pay USD 33.00 million for insolvent, Naklo-headquartered Merkur – Trgovina in Storitve back in July.
That deal was considerably larger than its nearest competitor by value; second place took the form of a USD 2.00 million private placing of stock by US-based GrowGeneration, which Merida Capital Partners subscribed to.
© Zephus Ltd