Kalera AS, an American vertical farming company, has entered into a share purchase agreement for the acquisition of all shares in &ever GmbH, a German indoor farming company. The total enterprise value is € 130 million. The consideration will consist of a combination of cash and Kalera shares.
Accelerating global production
“We see &ever's climate cell technology and their high degree of automation as excellent additions to our advanced nutrient management system, which will further increase the productivity of our production facilities," says Daniel Malechuk, CEO of Kalera.
Kalera aims to accelerate the global vegetable production industry and further expand in vertical farming, through its global reach. "We share very similar visions, core values, and goals and are eager to immediately begin the integration of the companies together," says Dr. Henner Schwarz, CEO of &ever.
He added that from the beginning &ever's vision has been to offer communities worldwide hyperlocal high-quality salads and herbs year-round. "Together with Kalera, we have now come a big step closer to this goal."
Franz Drack, CMO at &ever said: “We are very excited to join forces with Kalera as it allows us to establish a truly global presence in the indoor vertical farming industry and leverage complementary technologies to serve communities around the world with fresh hyperlocal greens even better. We also see a great fit in terms of can-do culture and people.”
“The merger is an important milestone for the global future of vertical farming. We are very much looking forward to the next steps with &ever as a new, stronger Kalera,” says Daniel Malechuk who will serve as CEO of the combined company. Henner will serve as Managing Director of EMEA and Asia for the combined entity.
“This acquisition, combined with our previous acquisition of Vindara, the only seed company dedicated specifically to controlled environment agriculture, continues to complement and accelerate Kalera’s now global industry-leading position.”
Plan of approach internationally
The &ever facility in Kuwait and the farm in Singapore, which is still under construction, will become Kalera’s first international operations.
&ever’s management team will strengthen Kalera’s international business development initiatives and operational capabilities. In addition, one member of &ever’s Board will join Kalera’s Board. The company will be wholly owned by Kalera AS upon closing of the transaction. &ever GmbH will be renamed to Kalera GmbH.