- Cinven acquired Planasa in January 2018
- Planasa is an agri-food business, specialising in breeding of berry varieties
- Planasa has six R&D centres in Europe, Mexico and the US
Cinven announced that it has agreed to sell Planasa, an agri-tech company, to strategic buyer EW Group. Label Investments is also exiting its stake in the company.
Headquartered in Valtierra in Spain, Planasa is an agri-food company that specialises in breeding of berry varieties, namely blueberries, raspberries, strawberries and blackberries. The company has six R&D centres in Europe, Mexico and the US, and has invested over €25 million in R&D over the last five years.
Since acquiring Planasa in January 2018, Cinven has worked with Planasa to develop and roll-out new berry varieties and invested in field digitalisation. In 2021, Planasa acquired Advanced Berry Breeding, a Dutch raspberry breeding group.
“Cinven has successfully driven strong growth at Planasa by investing in the core business, expanding globally, significantly growing R&D and attracting a first-class management team,” said Thilo Sautter, partner at Cinven. “We have worked with management to transform the group from a founder-led business to a leading global agri-tech operator. We are very proud of the success that the Company has achieved. Planasa is well-positioned to maintain its positive trajectory and we wish the company success in its next stage of growth.”
Financial details of the transaction were not disclosed.
Cinven is a London-headquartered private equity firm with approximately £39 billion in total funds raised.
Label Investments, based in Pamplona in Spain, specialised agribusiness investment group.