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Biobest acquires equity stake in IVOGqrcode

Jan. 12, 2018

Favorites Print Jan. 12, 2018
Biobest and IVOG announced that Biobest Group NV has acquired a majority stake in IVOG biotechnical systems GmbH. IVOG is among the world’s largest manufacturers of sticky traps and rolls, a key tool for growers to put in place a successful biological control strategy. In 1983, IVOG was the first commercial producer of sticky traps. Biobest and IVOG began their collaboration in 2001. This helped both parties build a prominent position as providers of high-quality sticky traps and rolls. Biobest’s equity stake in IVOG now consolidates this collaboration. It lays a strong foundation for both parties to remain on top of grower’s needs with competitive top-quality solutions and opens up new commercial opportunities.

Joachim Schneider, Managing Director of IVOG said: ”I’m very proud of what we achieved as a family business building on the activities initiated by my parents 35 years ago. I am grateful to my team, all our supporters and especially to our long-term, loyal customers and suppliers. The long-term collaboration with Biobest since 2001 has been a real win-win arrangement. We completed significant investments in 2017 to substantially increase our production capacity. I am confident that the entry of Biobest as a shareholder in IVOG sets the stage for further success. We will be able to strengthen our efforts in R&D together with Biobest and we remain ideally positioned to supply Biobest’s rapidly growing commercial network. With increased production capacity, we are also pleased to maintain and expand our capacity to commercialize our products through our own distribution channels.”
 
Jean-Marc Vandoorne, CEO of Biobest said: ”Our entry in the capital of IVOG, signed during the last days of 2017, concluded a year of spectacular growth for Biobest, with similar contributions of internal growth and M&A transactions. IVOG is a well-appreciated and long-standing partner of ours. This transaction allows us to become more involved in the manufacturing of the important and growing product line of sticky traps and rolls. The desired capacity for further growth at IVOG is in place. Our equity stake will facilitate joint investments in innovative quality products and state of the art production technologies. Our visions are well aligned and I look forward to continue our collaboration with Joachim Schneider and his team in this new setting.”

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