Graines Voltz S.A. (ENXTPA:GRVO) entered into a memorandum of understanding to acquire Andre Briant Jeunes Plants from Aurore Investissements SA for €11 million on February 16, 2022. The consideration is inclusive of purchase price and working capital requirements. The deal has been financed from the €27 million equity raising with European institutional investors.

Acquisition price is below 3x EBITDA of Andre Briant .Andre Briant Jeunes Plants reported a revenue of €10.5 million on August 31, 2021. Closing of the transaction is expected before March 31, 2022.