ED&F Man Acquires Maviga
ED&F Man, the global commodities and financial services group, today [4 January 2017] announces that it has acquired Maviga PLC, one of the leading international specialists in the origination, processing and supply of dried edible pulses and other specialty crops such as sesame seeds; the consideration is undisclosed.
Maviga becomes a wholly owned subsidiary of ED&F Man and is an important part of the Group’s strategic growth plans for its Commodities Division.
Commenting on the acquisition, Philip Howell, Group Chief Executive of ED&F Man, said:
“This is a strategic acquisition in a dynamic sector, of a highly-regarded company with an accomplished leadership team. The global market for edible pulses is growing rapidly – it is estimated that the world’s population will be 9 billion by 2050; this will place an even greater reliance on leguminous protein. We are delighted to welcome Maviga to the ED&F Man Group.”
Jan Kees van der Wild, Managing Director of ED&F Man’s Commodity Division, commented:
“The acquisition of Maviga will enable us to participate in the growth of this important segment and to continue to offer customers choice, quality and an assured supply chain. As a Division we look forward to collaborating to help accelerate the growth of the Maviga Business Unit and Commodities business overall.”
Commenting on the decision to become part of ED&F MAN group, Marcus Coles, Chief Executive Officer of Maviga, said:
“This is about the perpetuity of our business, something that ED&F Man, with its 230 year heritage understands. ED&F Man has a strong entrepreneurial culture and will be able to provide Maviga with investment capital for both continued organic growth and acquisitions.”