Sep. 19, 2014
Biobest announced the closing of the acquisition of 100 % of the shares of The Bug Factory.The Bug Factory has been Biobest’s exclusive distributor in Western Canada since 2003. The Bug Factory has also produced certain beneficials complementary to Biobest’s own product range and has served a number of customers in the US market.
The commercial teams of both companies in North-America will be integrated with immediate effect, with a view to consolidate and strengthen Biobest’s commercial presence in the Western USA and Canada. The products produced at The Bug Factory will remain part of the Biobest portfolio. The company will integrate the production capabilities in Biobest’s global production structure.
Jean-Marc Vandoorne, Biobest’s CEO said "The Bug Factory has been a valued and successful distributor for Biobest for many years. We are excited to now have the opportunity to realize the full potential for commercial and operational synergy. Our combined commercial teams are strongly positioned to take advantage of the many opportunities that are unfolding in the Western part of North America. I am pleased that the founders of The Bug Factory have accepted to be part of our long term growth plan."
Chris Hale, co-founder and CEO of The Bug Factory said "Excellent service and advice and a strong product portfolio, that’s how we have built success at The Bug Factory. The market for pollination and biological control in Western North America is growing rapidly. We gain a lot of critical mass by integrating our operations with Biobest, and I am confident that the commercial team for which I take responsibility will be able to further enhance the standard of service and to achieve greater market coverage in Western North America."