US-listed Marrone Bio acquires Pro Farm Technologies Oy

Translink Corporate Finance announces the acquisition in Pro Farm Technologies Oy by the US listed Marrone Bio Innovations. The transaction is expected to close in the third quarter of 2019, subject to satisfaction of customary conditions. The transaction will be funded through a combination of stock and cash valued at approximately $31.8 million to be paid over four and one-half years, subject to the achievement of agreed commercial milestones. Pro Farm’s technology supports plants physiology, resulting in better germination, stronger plants, higher yields and greater tolerance against abiotic stress. Pro Farm has distribution agreements servicing most of the major global agricultural production areas, with particular strength in Europe and the Commonwealth of Independent States (CIS), and expansion under way in Latin America, North America, Africa and Asia. Translink acted as the exclusive financial adviser to the Company and the owners of Pro Farm.

Marrone Bio is a leading developer of bio-based products for pest management and plant health. The transaction gives Marrone Bio greater access to the $4.6 billion seed- and soil-applied market and a significant opportunity to leverage an expanded global distribution network for all of MBI’s products.

The CEO of Pro Farm Matti Tiainen comments on the process:

“Knowing that there is great complexity in overseas transactions when a public company acquires a private company, we decided to tender different Corporate Finance advisors in order to ensure the best possible outcome for all parties.
Meeting with selected providers we trusted our transaction to Translink and could not have been happier.
Translink really has an entrepreneurial spirit embedded in their service and people making it a great partner to work with. We even managed to close the transaction during the peak holiday time due to the dedication and professionalism Translink showed during the process.”

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