Dümmen Orange Acquires Grow-Tech
According to the companies, the move reflects the growing importance of scale in the plug business, the opportunity to serve the consolidating young plant growers around the world with innovative products.
Grow-Tech will benefit from Dümmen Orange’s expertise and innovation pipeline and will be better positioned to serve its customers. Dümmen Orange welcomes Grow-Tech’s products and market know-how and its up-to date understanding of grower needs, especially in the North American market.
Grow-Tech will continue as independent company and continue to grow its customer base.
“We are very excited to be part of this team. Dümmen Orange has the broadest offering of starting material in the floricultural market and its ‘Grower Solutions’ business supports growers around the world to become more successful in the greenhouse. We are empowered to drive our growth and lead our expansion. The deal between two private equity owned companies was straight forward recognizing the trend to market consolidation between growers and their suppliers. The valuation was aligned with current market conditions,” said Edwin Dijkshoorn, Grow-Tech’s managing director.
Biense Visser, CEO of Dümmen Orange adds, “We are proud to welcome US based Grow-Tech to our family of businesses. Dümmen Orange respects and values all existing customer relations and has asked the directors of Grow-Tech to press ahead. Edwin Dijkshoorn will not only continue to guarantee the current level of knowledge and support but he will also provide a stimulus for continuous innovation and expansion of services to customers around the globe.”