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Biobest acquires equity stake in IVOG
Jan. 12, 2018
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BelgiumJoachim 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.”
Source: Biobest New Release
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