Unicorn sold to Limagrain

Squarefield acted as exclusive financial advisor to the shareholders of Unicorn Grain Specialities on the sale to Limagrain Céreales Ingrédients.

On 22 May 2018, our client Unicorn Grain Specialties (“Unicorn” or the “Company”), a Dutch leading producer of natural specialty ingredients, has agreed to sell 100% of the shares of the Company to Limagrain Céréales Ingrédients (“LCI”), the European market leader in the production of functional flours and a subsidiary of Groupe Limagrain Holding (“Groupe Limagrain”), the leading French agricultural cooperative group.

With the acquisition, LCI acquires a strong Western-European platform focused on unlocking the natural functionalities of grains, seeds and pulses. Both businesses are highly complementary in terms of processing technologies and geographic presence. LCI and Unicorn foresee significant growth opportunities in developing high value-add heat-treated ingredients and cereals for both food, pet food and feed market applications. The acquisition of Unicorn will bring LCI excellent facilities in Netherlands and marks its first step in becoming the European market leader in heat treated cereal ingredients.

Unicorn Grain Specialities

Unicorn is a Netherlands based market leading company specialised in the production, processing and distribution of natural functional flours and pre-treated (puffed grains) based on (ancient) grains, seeds and pulses. By leveraging its strong NPD and co-creation capabilities, its know-how and unique processing technologies, Unicorn fuels innovations in specific niches of global Food, Petfood and Feed markets.

Groupe Limagrain Holding

Groupe Limagrain, which is the no. 4 seed company worldwide, was founded and directed by farmers and is engaged in the production of vegetable seeds, field seeds and cereal products. Groupe Limagrain operates on a global scale generating over EUR 2.6bn in sales in 2017 and employs more than 10,000 employees. Through its subsidiary, Limagrain Céréales Ingrédients, Groupe Limagrain is the European market leader in functional flours and cereal ingredients for the food industry.

Pieter Spanjers – CEO Unicorn: “We experienced Squarefield in the sale of Unicorn to Limagrain as one-of-its-kind within the international F&A industry. Visionary, knowledgeable and outstanding Corporate Finance expertise at all stages of the entire M&A process. For Unicorn, Squarefield is the perpetual partner, dedicated to realise strategic value and synergies for all parties.

2018