The fund ICF Capital Expansió II has invested 3 million euros in the Catalan company Semillas Batlle, dedicated to specialised agriculture. The investment, through a capital increase, will boost production capacity, revamp the current facilities in order to automate the processes of the current production unit at Bell Lloc d'Urgell (Lleida) and, simultaneously, make it possible to invest in a smart warehouse.
The Catalan company was founded in 1802 and its majority shareholders are the Batlle family. Its headquarters are currently in Molins de Rei, where it coordinates both production and logistics, and it has two production units, one located in Bell Lloc d'Urgell (Lleida) and another in Talavera de la Nueva (Toledo). The company, comprising a team of around 90 people, has a major domestic presence as well as a good stance in the international market, being present in 40 countries on all the continents.
The company's activity is geared towards two major business areas. On the one hand, obtaining, producing and marketing large-scale seed growing (forage, vegetable oils, cereals and legumes) that supply major crop growing expanses and, on the other hand, a hobby line that produces and markets all kinds of products for orchards and gardens (substrates, all kinds of seeds, fertilisers and phytosanitary products). The company closed 2019 with €22m of turnover and the strategic plan will increase its turnover twofold in the coming years and position it as one of Europe's major players.
David Giné, Chief Executive Officer of Semillas Batlle, deems “the entry of ICF Capital Expansió into the company's shareholding to be the ideal partner to undertake this growth project, as it has bestowed upon the company the solvency of assets and treasury needed to carry it out, and will allow us to take a step forward with improved corporate governance”.
A benchmark in the sector and an unmistakeable commitment to R&D
Semillas Batlle is a benchmark in the sector. One of the stand-out and high-added-value features of the company is its ongoing commitment and investment in R&D&I to obtain new varieties of seeds with the goal of adjusting to the growing and demanding needs of farmers, while optimising the quality of the seed to ensure a good harvest, productivity and economic yield.
The company has historically committed to its stance in the research and development of all types of hybrid and open-pollinated seeds, fully distancing itself from genetic modification.
About ICF Capital Expansió II
ICF Capital Expansió II (managed by ICF Capital) is a 50 million euro venture capital fund focusing on investment in Catalan companies which are involved in strategic organic (greater international presence, increased production) or inorganic (acquisition of companies) growth projects. Companies obtain equity through capital increases up to 5 million euros. The Head of Investment is Adrià Torrelles.
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