Dutch potato cooperative Agrico has formally announced its intention to acquire the seed potato operations of fellow-Emmeloord-based business, The Potato Company (TPC).
In a statement, Agrico said that the move represented an ‘important step towards expanding its acreage in order to continue to meet the growing demand.’ It added, ‘This also offers the benefits of synergy, which will help Agrico to further optimise its organisation.’
Following a successful strategic global partnership for several years, the companies believe the acquisition is a logical next step for both organisations. The acquisition of TPC allows Agrico the prospect of continuing to achieve its growth objectives within the shrinking seed potato market in Western Europe, enabling it to remain a stable and reliable partner in the sector.
Agrico CEO Mark Zuidhof commented, “This acquisition contributes to Agrico’s growth objective in Western Europe’s shrinking seed potato market. This allows us to focus even more strongly on the sales and development of monopoly varieties. TPC’s distribution network to more than 60 countries is also an excellent addition to our sales channels.”
TPC was established almost 20 years ago and it has more than 450 hectares of seed potatoes, grown on a pool contract basis, as well as a significant trading business and an effectively run distribution network for both its monopoly varieties and free trade varieties. It is particularly known for developing potato varieties with broad potato cyst nematode resistance.
Under the terms of the acquisition, TPC will become part of Agrico as a wholly-owned subsidiary, remaining an entity within the group. TPC’s committed and experienced workforce will therefore remain formally employed by TPC B.V. Current owner of TPC, Gaby Stet, added, “I am proud that we have brought the company so far over a period of almost 20 years, and I look forward to further growth and professionalisation along with Agrico. TPC, as a second sales channel within the Agrico group, will also be able to further evolve its international activities. Along with Agrico, we will be able to continue to guarantee the return for our growers and, in terms of sales, we will remain visible under the identity of TPC.”