Investment company NPM Capital has acquired a minority share in KUBO, a leading developer of high-tech greenhouses for horticulture. With NPM's support, the Dutch family owned company aims to further develop its global leadership in state-of-the-art greenhouse concepts.
According to Wouter Kuiper, KUBO's CEO and the third generation in the family business, further international expansion of his greenhouse company offers an enormous opportunity. "We can see that the scale at which our clients operate is getting larger and larger, and the greenhouses are not only getting bigger, but also increasingly technologically complex. In addition, a growing number of investors that are entering the market lack horticultural expertise themselves and look for turn-key solutions. With NPM Capital, we'll have an investor on board with a long-term investment horizon, a very clear vision on our sector, and with the means and know-how to help shape our international expansion. Together, we can further professionalise our organisation, open new branches and attract the best talent. NPM can also provide support for future acquisitions. We are ready to take this leap together. In the end, it is our ambition to strengthen our leading position in the global market," Kuiper said.
Rapidly growing demand
The decision to join forces with a long-term investor also makes sense, given that the international market for greenhouse cultivation will continue to grow rapidly the coming decades. Kuiper: "That growth will likely be around 10% per year. On every global continent, there is a rapidly growing demand for high-quality and locally produced products that are grown safely and efficiently under ideal climatological conditions, using limited energy, water and pesticides. We can do all those things at once in our high-tech greenhouses."
Rutger Ruigrok, Managing Director of NPM Capital, is very excited about NPM's opportunity to invest in KUBO. "We are already deeply involved in the food and agricultural supply chain, and as part of our investment focus 'Feeding the World', we have also been following developments in the greenhouse industry for years. KUBO is without a doubt one of the leading players in terms of technology and innovation. Given the company's strong position as a value chain orchestrator and its deep ties with the Dutch horticulture ecosystem, KUBO is the ideal platform for further development of high-tech
greenhouses. We are also impressed by the entrepreneurial spirit and qualities of Wouter and his team. By now, we have also learned that there is a good cultural fit between KUBO and NPM. For that reason, we are looking forward to a long-term collaboration to support the jewel of the Dutch knowledge-intensive manufacturing industry in realising their ambitions."
Both parties agreed not to disclose the financial terms of the transaction that still is subject to customary regulatory approvals.
