August 28, 2019
Marrone Bio Innovations Inc. (NASDAQ: MBII), a leading developer of bio-based products for pest management and plant health, has entered into a definitive purchase agreement with respect to an acquisition of Pro Farm Technologies OY (“Pro Farm”). Translink Corporate Finance acted as the exclusive financial advisor to the Sellers.
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. Technology is used in seed and foliar treatments in the major row and specialty crops of corn, cereals, sunflowers, oilseed rape (canola), sugar beets and vegetables, with other crops in development. 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.
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.
Matti Tiainen, CEO of Pro Farm comments:
“Knowing that there is great complexity in overseas transactions when 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.”
Contact our Team Members advising in this transaction:
Translink Corporate Finance Finland, based in Helsinki, is one of the leading M&A boutiques in the Finnish market. Since its foundation more than 15 years ago, their partners completed more than 100 M&A transactions in different industries, worked closely together with a number of business partners and industry players, both locally and internationally. In addition Translink Finland is a Certified Adviser on NASDAQ OMX First North.
Tero
Nummenpää
Chairman Translink International
tnummenpaa@translinkcf.com
