Press Release 5 th December 2023 DLF Seeds A/S and Groupe Florimond Desprez announce their inten on to enter into a Joint Venture for their beets opera ons with the ambi on to redefine the landscape of the sugar beet seed industry ROSKILDE, DENMARK AND CAPPELLE-EN-PÉVÈLE, FRANCE – 5 TH DECEMBER 2023 - DLF Seeds A/S and Groupe Florimond Desprez entered into an agreement to bring their sugar beet seed, fodder beet and industrial chicory business and R&D ac vi es to a Joint Venture. This new en ty aims at being a strong and innova ve player in the sugar beet sector. The sugar beet seed industry is facing demanding requirements and market segmenta on due to new legisla on and the impact of climate change. Recognizing these requirements alongside rapid technological advancements, these factors con nue to escalate investment demands in the sector. Both par es have therefore chosen to join forces to address these challenges more effec vely. “This strategic move is rooted in our shared vision of securing a strong posi on through the delivery of an advanced and differen ated product por olio and crea ng value for farmers and the sugar beet industry. The united en ty will become a top player in the global sugar beet and fodder beet market.” said Søren Halbye, CEO of DLF Seeds A/S. “Our two sugar beet seed ac vi es are very complementary both in terms of plant breeding and seed supply chain. These complementari es will give us addi onal strength to enable the agroecology transi on and support beet growers in adap ng to climate change. Furthermore, DLF Seeds A/S and Groupe Florimond Desprez share the same values of humility and persistence, which will not only secure the opera onal success of this Joint Venture but also guarantee the long-term crea on of innova ve beet varie es.” said François Desprez, Président of Groupe Florimond Desprez. Both companies recognize the significance of a seamless integra on, they will engage in a liaison process aiming at formula ng an integra on plan. The integra on will be executed with precision, minimizing disrup ons and op mizing the synergies between DLF Beet Seeds and the Beets & Chicory business unit of Groupe Florimond Desprez. Both par es are fully commi ed to ensure that the integrity of exis ng opera ons will be maintained throughout the process. The establishment of the Joint Venture is currently subject to regulatory approval. Prac cal changes to day- to-day opera ons will be deferred un l the comple on of the process. During the interim period leading up to the an cipated Joint Venture effec ve date of July 1, 2024, it is crucial to note that the opera ons of DLF Beet Seeds and the Beets & Chicory business unit of Groupe Florimond Desprez will remain independent and unchanged.
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