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Allen & Overy advises KWS SAAT on financing takeover of Pop Vriend Seeds

 

05 July 2019

Allen & Overy LLP has advised KWS SAAT SE on the syndicated financing required to acquire Pop Vriend Seeds.  

Pop Vriend Seeds is a family-run seed cultivation business which operates on a global scale from its headquarters in Andijk, Netherlands. The company sells vegetable seeds under its brand name in around 100 countries.

The loan serves to finance the acquisition; at the same time a new credit line was agreed which serves general company financing and replaces the previous credit line. The financing banks are BNP Paribas Fortis SA/NV, DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main (also acting as agent) and UniCredit Bank AG.

KWS is one of the world's leading plant cultivation companies. More than 5.000 employees in 70 countries generated turnover of EUR 1.1 billion in the 2017/18 financial year, which translated into an EBIT of EUR 133 million. The family-run business focuses on breeding plants, as well as producing and selling seeds for maize, sugar beet, cereal, rape and sunflowers. KWS invests around EUR 200 million in research and development every year.

Allen & Overy already advised KWS SAAT on acquiring Pop Vriend Seeds, with a team led by Dr. Hartmut Krause (Frankfurt) and Katinka Middelkoop (Amsterdam, both Corporate/M&A).

The Allen & Overy team comprised partner Dr. Walter Uebelhoer, counsel Dr. Ilja Baudisch and associate Dr. Rauni Ahammer (all Banking & Finance, Munich) and partner Dr. Heike Weber and associate Dr. Thomas Dieker (both Tax, Frankfurt).

The financing banks were advised by Freshfields Bruckhaus Deringer, represented by partner Dr. Frank Laudenklos and principal associates Alexander Pospisil and Dr. Simon Reitz (all Banking & Finance, Frankfurt).

The KWS SAAT SE team was led by Claudia Hallebach (Global Head of Legal and IP).


 

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