Jun. 29, 2017
Biobest and Distribuciones IMEX announced that Biobest has acquired a 100% equity stake in IMEX. IMEX is a well-known Mexican distributor of environmentally friendly solutions for plant health and pollination, serving the countries’ growing horticultural industry. Biobest and IMEX started collaborating in 2002 with IMEX importing bumblebees from Biobest’s Canadian operation. They became joint venture partners in 2008, setting up Biobest Mexico S.A. de C.V., a company producing bumblebees and beneficials with IMEX distributing these products in the Mexican market. The transaction reflects Biobest’s confidence in the growth potential of sustainable horticulture in Mexico. Lic. Hugo Hernandez continues as CEO of the company.
Lic. Hugo Hernandez, CEO of IMEX: “The Mexican market for our products is in full swing. We believe Biobest has the potential to be an excellent partner for the future. I envision a partner for IMEX that is well aligned with our goals and values: providing customers with sound advice and a full suite of safe and natural solutions, creating a solid future for our team and offering an excellent growth opportunity for all of my trusted suppliers. We have successfully worked together with Biobest first importing, then jointly producing bumblebees and beneficials in Biobest Mexico S.A. de C.V.. That collaboration provides a strong foundation to be confident and optimistic about the prospect of fully integrating our activities in Mexico. I am pleased to continue leading the company in the coming years.”
Jean-Marc Vandoorne, CEO of Biobest: “This is a good time for a win-win deal with a trusted long term partner. We aim to ensure continuity for the long term and increase our stakes in a market with great potential. Biobest is following an ambitious growth strategy: we simultaneously leverage opportunities for internal growth and growth through acquisition. We value a lot IMEX’s team and its commercial network with customers and international suppliers. As in other transactions we have done, continuity and leveraging the knowledge and the network of both sides will go hand in hand.”