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31 October 2023

IFS accompanies PotatoNext with financing of strategic partnership and working capital

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IFS accompanies PotatoNext with financing of strategic partnership and working capital

In October 2023, PotatoNext successfully completed the financing of the strategic collaboration between Nedato, Agrico and Agrico's subsidiary Leo de Kock, regarding the table potato activities as well as working capital financing and placed it with house bank Rabobank. With this financing, PotatoNext will be able to realise its growth ambitions, which include the integration of the table potato activities across the chain, contributing to a common vision, strategy and focus for the table potato growers who are members of Agrico and Nedato. Integrated Finance Solutions (IFS) guided the entire process from the establishment of the cooperative to the completion of the financing.

PotatoNext
PotatoNext is a cooperative established in September 2023 as a collaboration between Nedato, Agrico and Agrico's subsidiary Leo de Kock in the growing and marketing of ware potatoes. The pooling of activities throughout the chain will lead to continuity in the cultivation of ware potatoes and synergy benefits, including more efficient business processes, optimised distribution and logistics, and greater added value in sales flows. Bringing together all the resources involved in growing potatoes for human consumption in a single cooperative creates an ultra-short, efficient chain, in which PotatoNext is optimally positioned to manage the entire chain. This will enable PotatoNext to respond effectively to the growing demand from customers for an integrated supply and to structurally changing consumer needs.

Agrico
Agrico is a cooperative potato company and market leader in innovative potato varieties. Agrico supplies high-quality, certified seed and ware potatoes worldwide, based on 75 unique potato varieties. Agrico's roots are cooperative. In 1973, Agrico's predecessors (PZVB, DTV and Zuiderzeepolders) merged to form a new organisation: Agrico. This cooperative sowed the seeds for the leading player Agrico is today. Agrico exploits an average of 500,000 tonnes of potatoes annually and operates in more than 80 countries.

Nedato
The Dutch Potato Growers' Organisation (Nedato) was founded in 1963 when potato growers from Voorne-Putten and Hoeksche Waard joined forces to form a cooperative. Nedato is a unique player in the sector, with an eye on the entire chain from grower to factory to customer, focusing on retail, processing, food service, export and wholesale. Nedato produces 400,000 tonnes of potatoes a year on 7,500 hectares of land, making it a major player in the European market.
The financing will enable PotatoNext to realise its growth ambitions for the coming years and to consolidate and expand its strong name and market position.

More information?
For more information please contact Integrated Finance Solutions (IFS) at +31(0)30 7602110.


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