Private equity firm Quadrivio has sold Suba Seeds, a Longiano, Forlì-Cesena, Italy-based owner of a group of companies active in Italy and abroad in the production of vegetable seeds, to Paine&Partners, a US fund.
The transaction consists in the sale of 100% of the company, for a value of approx. € 80m.
The exit, the fifth divestment of Fund 2, enables Quadrivio to reach a high internal rate of return, over two times the invested capital, in less than three years.
Quadrivio acquired Suba Seeds in December 2012 with the aim of supporting the company in its international expansion. With Quadrivio’s help, Suba Seeds acquired Condor Seeds, an American company with a complementary product range, in 2013, and has almost doubled its turnover becoming one of the main global players in the production of high quality seeds.
Founded by Augusto Suzzi forty years ago, Suba Seeds is active in the production and distribution of ortive seeds. The company operates as an industrial group of vertically integrated companies which cover the whole value chain of the sector from the production, in different parts of the world, to the distribution and marketing.