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.