Cases & Deals

Biobest acquires Biotrop

Client(s) Biobest Group NV

Jones Day represented Biobest Group NV, a Belgian developer of biological crop-protection products in its €500 million capital and debt raise for the acquisition of Biotrop Participacoes SA, a provider of biological and natural farming solutions in Brazil, for an enterprise value of about €532 million.

Biobest acquired 85% of the shares based on an enterprise value of BRL 2.8bn (€532 million) on a fully diluted basis. The remaining 15% was acquired by Biobest after a transition period of three years. This transaction allows Biobest to take a major position in South America and to start its transformation journey from a horticulture biocontrol and pollination specialist to a major biologicals player in agriculture, covering biocontrol, inoculants, biostimulants and pollination in covered and in open-field crops.

To finance this transaction, Biobest did a €400 million capital increase which was subscribed by some of its existing shareholders and by new shareholders. An additional €100 million loan facility was negotiated.