InVivo Retail and L-GAM today signed an agreement finalizing the acquisition of Jardiland. Having received a favorable opinion from the employee representatives of the two entities, Thierry Blandinières, CEO of InVivo and Yves Alexandre, Founding Partner of L-GAM, formalized the acquisition.
At the core of this transaction lies the creation of a new merged group. Thus, InVivo Retail will take over 100% of Jardiland’s shares, while L-GAM will take a minority stake in InVivo Retail.
The transaction is subject to the approval of the competition authority. This merger will allow InVivo Retail to optimize and expand its offering, to maintain its competitiveness in the garden center and animal center markets in France, to invest in digital transformation to offer a new customer experience, and to expand its international footprint, says Thierry Blandinières, CEO of InVivo.
L-GAM is a long-term oriented investment company with capital commitments in excess of € 350 million. L-GAM was established in 2013 by Yves Alexandre, Ferdinando Grimaldi and Felipe Merry del Val in partnership with the Liechtenstein Princely Family and several families from Europe, Asia and the USA. Its unique and differentiated business model is based on a long-term, industrial-like investment focus and a flexible mandate to provide investment solutions throughout the capital structure. L-GAM targets companies where experience and value added support to management, in addition to invested capital, can strengthen ambitious domestic and international growth projects. L-GAM has in the past invested in Roberto Cavalli (Italy), AltéAd (France), Grupo BC (Spain) and Faist ChemTec (Germany).
As the leading French agricultural cooperative group, InVivo Group is comprised of 206 cooperatives, totaling nearly 300,000 farmers; it employs 10,200 people in 34 countries. InVivo brings together five areas of activity: InVivo Agriculture (seeds, agro-supplies, international grain trade), Neovia (nutrition and animal health), InVivo Retail (general public distribution), InVivo Wine, and InVivo Food & Tech. Its 2016-2017 turnover amounts to 5.5 billion euros.
ABOUT Gamm vert
Founded in 1977, Gamm vert is the leading garden center in France with 1,004 stores, €1.3 billion euros in turnover over the last financial year and 4,500 employees.
Founded in 1973, Jardiland is the leading French specialist in the world of gardens, pets, and home improvement, with a network of 189 stores, thereof more than a hundred owned by the Group itself. Chaired by Thierry Sonalier, the Group directly employs 2,500 people (5,000 with franchisees) and generates sales of 730 million euros. More information: www.jardiland.com