The management of Hobaho has reached an agreement with Dümmen Orange regarding the acquisition of Hobaho Horti Group. Since 2016, Hobaho has been a part of Dümmen Orange, but it will now operate independently as a specialist in the mediation, auctioning, and breeding of bulbous crops. Dümmen Orange will focus on the breeding and propagation of cut flowers, pot plants and bedding plants, and distribution in North America through its in-house brokerage business. Hobaho's transition to independence has been facilitated by MGF, an investment fund specializing in Management Buy-Outs.
As of July 1, 2024, the shares of Hobaho Horti Group B.V. (including Hobaho B.V., Testcentrum voor Siergewassen B.V., and Boeket Handelmaatschappij B.V.) will be transferred to the current management team, consisting of Theo Aanhane (General Director), Hans Molenaar (Manager Finance), and Arno Verkley (Manager Supply Chain). Hobaho's Works Council has responded positively to this acquisition. The company currently employs 58 permanent staff members, for whom the acquisition will have limited impact. MGF will be involved as a minority shareholder and advisor in the background.
In recent years, Dümmen Orange, together with Hobaho, has made investments in the breeding of bulbous crops and supporting techniques such as bio-assays and rapid propagation. Hobaho's Testcentrum voor Siergewassen will continue this development in the new situation, focusing on crops such as tulip, lily, hyacinth, and gladiolus. Agreements have been made with Dümmen Orange regarding access to available knowledge and capacity. Hobaho will continue to work closely with entrepreneurs in the sector and research institutions, aiming at a healthier and more sustainable bulb cultivation.
Theo Aanhane stated: "Dümmen Orange's decision to focus on the breeding and propagation of cut flowers, pot plants and bedding plants, and its North American brokerage business, does not align with our ambition to further strengthen Hobaho's position in both mediation and breeding of flower bulbs. Continuity and reliability are essential for this. As our hard work and investments in breeding are starting to bear fruit, it would be a shame not to continue on this path. I am very enthusiastic about the acquisition and, together with Hans, Arno, our colleagues, and MGF, I have full confidence in Hobaho's future."
Anthony Christiaanse, CEO of Dümmen Orange, commented: "The sale of Hobaho marks another step in the further refinement of our business strategy. Our focus is on the breeding and propagation of cut flowers, pot plants and bedding plants, and distribution in North America. That is where we want to make the necessary investments to strengthen and expand our positions in those segments. The segment Hobaho focuses on, and the products and services it provides, are somewhat removed from our core business. We are confident that Hobaho is in good hands with the current management team and wish them great success in continuing this successful enterprise."
For more information:
Dümmen Orange
www.dummenorange.com