Ecuador has recently seen a steep increase in the number of flower farms that are being bought. The buyers are mostly large Colombian/American companies. They’re looking for opportunities to expand or strengthen their market position. For the seller it’s often a good opportunity to do away with a business.
There are two particular names which have been coming up again and again in the news about takeovers in Ecuador during the past year: Sunshine Bouquet and Elite Flower. They’re not just any company, but groups belonging to the top 500 largest companies in Colombia.
Not over yet
Sunshine took over Esmeralda Farms. With its 180 ha, Esmeralda is the largest nursery in Ecuador, growing rose, gypsophila and sunflowers among other crops. Elite bought several smaller companies. Most of them rose companies: Alma Roses, Sisapamba, Natuflor, Romaverde, Bellarosa, Rose Connection, and most recently Brown Breeding and the Dutch Qualisa. Florsani was also partially sold to Elite. And it’s not over yet when it comes to takeovers by Elite, according to insiders.
Conversations with some stakeholders revealed that there are several reasons to sell and to buy.(..)
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