Biobest acquires majority stake in IVOG
Biobest and IVOG announced that Biobest Group NV has acquired a majority stake in IVOG biotechnical systems GmbH. IVOG is among the world's largest manufacturers of sticky traps and tape, which are key tools for the successful implementation of biological control strategies. In 1983, IVOG was the first commercial producer of adhesive traps. Biobest and IVOG began their collaboration in 2001. This helped both parties to build a prominent position as suppliers of high-quality sticky traps and tape. Biobest's shareholding in IVOG now serves to consolidate this partnership. It sets up a solid base for both parties to keep abreast of the needs of the producers with competitive, high quality solutions, thus opening new business opportunities.
Joachim Schneider, General Director of IVOG, said: "I am very proud of what we have achieved as a family business by developing the activities started by my parents 35 years ago. I am grateful to my team and all our followers. The long-term collaboration with Biobest since 2001 has been a true mutually beneficial agreement. We completed big investments in 2017 to substantially increase our production capacity. I am sure that the entry of Biobest as a shareholder in IVOG will be the base for even greater success. We will be able to strengthen our R&D efforts together with Biobest and we will remain in an ideal position to supply Biobest's rapidly growing commercial network. With a greater production capacity, we are also pleased to be able to maintain and expand our ability to market our products through our own distribution channels."
Jean-Marc Vandoorne, CEO of Biobest said: "Our acquisition of IVOG capital, completed in the last days of 2017, marked the end of a spectacular year for Biobest in terms of growth, with similar contributions from internal growth and mergers and acquisitions. IVOG is an old and much appreciated partner. This transaction will allow us to become more involved in the manufacture of the increasingly important product line of sticky traps and tape. Our stake in IVOG's capital 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 continuing our collaboration with Joachim Schneider and his team in this new environment."
IVOG biotechnical systems GmbH
Biobest Group NV
Publication date: 1/15/2018
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