Clearwater International advises the shareholders on sale of Germicopa

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Clearwater international has advised the shareholders on the sale of Germicopa to Florimond Desprez group.

Germicopa, headquartered in Quimper (Finistère), specialises in the production of seed potatoes for all market segments; fresh processing, starch processing, garden and export. They are the French seed potato leader and worldwide leader of firm-flesh varieties, reporting revenue of €38m. The company produces approximately 80,000 tons of seed potatoes each year via a network of growers (growing contract), from its production units based in Brittany and in Nord Pas-de-Calais. Germicopa offers a unique collection of 50 protected varieties, internally developed and dedicated to all market segments. Half of the production is exported in 55 countries. Germicopa develops variety marketing aiming at reaching new needs of firm-flesh potato consumers, notably with the variety “Charlotte” and more recently with “Princesse Amandine”.

Since 2010, the financial shareholders IDIA Capital Investissement, UNEXO, Naxicap and Ouest Croissance have supported Germicopa’s management since the acquisition from the Dutch H2 to the takeover by the family owned group Florimond Desprez, to ensure the durability of the company.

Florimond Desprez (www.florimond-desprez.com) is a family owned and independent company which specialises in variety breeding and seed production, answering needs of the field crop market. The group is a leading worldwide player in the sugar beet seed market under its two brands “Florimond Desprez” and “SESVanderHave” and is among the first players in the straw cereal seed market. Florimond Desprez is the French leader in the seed potato market with its subsidiary “Germicopa”. The group reported revenue of €260m, including 65% realised outside France, and employ 930 staff.

The Clearwater International team was led by Philippe Guézenec.

“We thank our financial shareholders that have supported our development during the last four years, and Clearwater International which has advised us on the disposal of 100% shares to Florimond Desprez. This allows to join our business to a solid company, in order to stabilise and ensure the future of the company.”

Eric Bargy, CEO of Germicopa

“The acquisition of Germicopa represents a great diversification opportunity. The group Florimond Desprez will allow Germicopa to gain access to more important R&D capabilities and to our subsidiary networks in order to strengthen Germicopa’s international development on a growing market.”

François Desprez, CEO of Maison Florimond Desprez