Dutch rose grower Van den Berg Roses has sold its Chinese nursery in Kunming, China, to the Australian flower company Lynch Group. This company, which includes several production and trading companies. It is largely owned by an investment company and took a minority stake in the flower farm two years ago.
The investors have brought Lynch Group to the stock exchange, and Arie van den Berg and partner Nic Pannekeet, as well as three other Dutch entrepreneurs, have been bought out (for 58 million euros).
Dutch newspaper Financieel Dagblad asked Arie and Nic about their motivation (in Dutch and €).
Lynch becomes the biggest ASX IPO in 2021
Florist company Lynch has hit the ASX and is the biggest IPO of 2021 so far, www.stockhead.com.au, reports. The company raised $206 million at $3.60 per share. Upon its ASX listing, shares saw a slight drop to $3.50 – a 2.78 per cent decline. One of the company’s main selling points was future upside in supermarket penetration in the Australian market. Australia’s penetration is only 19 percent compared to the UK’s 55 percent.
Lynch is the largest supplier in this market, providing 88 percent of consumer-ready floral products to supermarkets. Lynch also has a presence in China but China’s market is at an even earlier stage.
The company plans to increase production capacity through developing secured land, enhancing yields at existing farms, and expanding penetration into mass-market sales channels for floral products.
Read the complete article at www.stockhead.com.au.