February 18, 2010
Sale of Kirin Agribio Company and Kirin Agribio EC
Tokyo, February 18, 2010 —Kirin Holdings Company, Limited (Tokyo, Japan; President and CEO, Kazuyasu Kato; hereafter, "Kirin") announced today the signing of a share sale agreement on February 17, 2010 with H2 Equity Partners (hereafter, "H2") in the Netherlands for all outstanding shares of Kirin Agribio Company, Limited (hereafter, "KAB") and Kirin Agribio EC B.V. ("KAE"), both wholly owned subsidiaries of Kirin. The transaction is expected to be complete by the end of March.
Since the incorporation of Kirin Plant Laboratory in 1983, Kirin's Agribio business has expanded its horticulture, vegetable and potato business through collaboration of technologies in breeding, development and production of seeds and cuttings, and has provided its products and services to customers worldwide. Kirin decided to sell its entire shareholdings in both subsidiaries to H2 since Kirin believes that this change of ownership will further develop the business and increase the value of the Agribio companies.
Kirin Group will constantly seek to nurture close bonds with its customers and offer the happiness of food and health, based on its marketing slogan oishisa wo egaoni — good taste makes you smile.
| 1. | Sale Companies: | KAB and KAE |
| 2. | Seller: | Kirin |
| 3. | Acquirer: | Special purpose vehicle managed by H2 |
| 4. | Overview: | Kirin will sell all outstanding shares of KAB and KAE to special purpose vehicle managed by H2 |
| 5. | Signing Date: | February 17, 2010 |
| 6. | Completion Date: | By the end of March (expected) |
Summary of Sale
Overview of KAB
| 1. | Company Name: | Kirin Agribio Co. Ltd. |
| 2. | CEO: | Toshiro Sasaki |
| 3. | Headquarter: | Irifune, Chuo-ku, Tokyo |
| 4. | Incorporation: | June 1995 |
| 5. | Total Equity: | JPY 30 million |
| 6. | Total Shares Outstanding: | 10,000 shares |
| 7. | Shareholder: | Kirin Holdings Company, Limited (100%) |
| 8. | Number of Employees: | Approx. 70 as of September 30, 2009 |
| 9. | Business Description: | Wholesale of flower cuttings and importing |
| 10. | Revenue: | JPY 2.1 billion as of September 30, 2009 |
Overview of KAE
| 1. | Company Name: | Kirin Agribio EC B.V. |
| 2. | CEO: | Jean Brizard |
| 3. | Headquarter: | De Lier, the Netherlands |
| 4. | Incorporation: | November 1993 |
| 5. | Total Equity: | EUR 18,877 (approx. JPY 2.5 million JPY 130 / EUR) |
| 6. | Total Shares Outstanding: | 416 shares |
| 7. | Shareholder: | Kirin Holdings Company, Limited (100%) |
| 8. | Number of Employees: | Approx. 2,000 within KAE Group as of September 30, 2009 |
| 9. | Business Description: | Management of the Agribio business in Europe |
| 10. | Revenue: | EUR 103 million (approx. JPY 13.3 billion JPY 130 / EUR) on a consolidated basis as of September 30, 2009 |
Overview of H2
| 1. | Company Name: | H2 Equity Partners B.V. |
| 2. | CEO: | Gert Jan van der Hoeven |
| 3. | Headquarter: | Amsterdam, the Netherlands |
| 4. | Incorporation: | 1991 |
| 5. | Business Description: | An independent private equity firm founded in 1991, headquartered in the Netherlands. H2 focuses on investments in mid-sized companies in the Benelux, Germany and the UK that can benefit from its in-house operating skills and expertise. H2 has a proven track record of growing its portfolio companies substantially in revenue and profit. Currently H2 is managing H2 Equity Partners Fund III, an investment fund of EUR 188 million H2 today has invested in approx. 12 companies. Aggregate revenue of portfolio companies is more than EUR 1.4 billion. |