KKR exits Afriflora to Sun European Partners after three-year holding

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Global buyout firm KKR has exited rose growing business Afriflora from Sun European Partners.

The deal marks the end of a three-year holding for KKR, which invested a reported $200m in the business in 2014.

As part of the transaction, the Barnhoorn family, who founded the business, will remain significant shareholders and will continue to run it.

Afriflora is a supplier of roses across Europe. It is headquartered in the Netherlands, but operates in Ethiopia. It employs more than 11,000 people that cultivate, produce and sell more than 1.1bn roses annually.

Sun European’s investment will allow the business to start its next phase of growth and development through add-on acquisitions.

KKR managing director Nicolas Gheysens said, “We have been pleased with our partnership with Afriflora and the Barnhoorn family. We wish Afriflora, Sun and the Barnhoorn family continued success.”

Sun European managing director Paul Daccus said, “We look forward to working with the Barnhoorn family and the management team over the coming years, to support the continued development and success of the business.”

The exit comes just days after KKR bought up Unilever’s spreads business in a €6.8bn deal.

Source : http://www.altassets.net/private-equity-news/by-news-type/deal-news/kkr-exits-afriflora-to-sun-european-partners-after-three-year-holding.html?vemail=corporate@havilapartners.com

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