BayWa Venture GmbH, a subsidiary of BayWa AG, and the RWA Invest GmbH each have a ten percent stake in BartsParts B.V. With bartsparts.eu, the Dutch start-up runs an online shop for slow-moving replacement parts for agricultural and garden technologies and ships them to clients all over the world via their platform. The goal of this participation is to transform bartsparts.eu into the most advanced online shop for replacement parts in Europe. BartsParts is the third Group company to come out of BayWa and RWA's joint platform for innovation, the Agro Innovation Lab's Acceleration Program. The Dutch competitors took part in the program in 2017 as one of six start-ups.

'Agricultural digitalisation is also changing agricultural trade. In addition to close, physical, personalised storefront locations, additional digital offerings are becoming increasingly important due to customer demand', says Klaus Josef Lutz, CEO of BayWa AG.

Marion Meyer, Head of BayWa Venture, adds: 'The cooperation with BartsParts allows us to participate in a new business model, where we can expand our knowledge of online trading in the area of replacement parts.'

'BartsParts is delighted to welcome BayWa and RWA as their new shareholders and looks forward to leveraging their knowledge of the agri business in our spare parts business platform. We feel that the investment by BayWa and RWA is a strong vote of confidence in BartsParts' business model and its team and that this puts us on a very exciting growth path in Europe. We are grateful for the trust BayWa and RWA put in BartsParts', stated Niels de Vries, BartsParts CEO.

The goal is to become the market leader in the Netherlands, Germany, Austria, Switzerland and South-East Europe, as well as achieving significant market shares in the rest of Europe. The interim goal is to enter other promising markets outside of Europe.

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BayWa AG published this content on 23 October 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 23 October 2018 11:42:07 UTC