Orchard Finance assists Brokking Group B.V. in its acquisition of AppsforAgri B.V.

Executive Summary

Orchard Finance has been working with Brokking Group as a financial advisor for quite some time. In early 2023, Orchard Finance was asked to assist in the potential purchase of AppsForAgri. With the expansion of our services in the field of corporate finance, we can also provide clients with advice in this area.

About Brokking Holding B.V.

Brokking is a family business that has been active in the agricultural sector in Northwest Europe for over 120 years. Within this sector, Brokking operates through its subsidiaries Triferto, FeedValid and Dekker Grains, and Fertilisers.

About AppsforAgri B.V.

AppsforAgri is a leading company within Smart Farming, specialised in developing innovative solutions for the agricultural sector. With its products (iCrop and SmartFarm), AppsforAgri provides farmers innovative technologies to optimise their business processes and increase sustainability.

The consulting process

This consulting process involved several steps that ultimately led to a successful acquisition. Orchard Finance started with an exploratory investigation into the company AppsForAgri. This included an examination of the company’s product and service offerings, financial management, and the (strategic) fit between the two companies. After receiving positive feedback from this investigation and a successful negotiation phase, an agreement was reached between the parties.

Due to the product/service offering of AppsForAgri, the financial and legal due diligence was supplemented with technical due diligence. Simultaneously with the due diligence process, the documentation phase began, where relevant transaction documentation was prepared in collaboration with legal experts. After a comprehensive due diligence process, final agreements were drafted, and negotiations were concluded.

The transaction was completed at the end of August, with Brokking acquiring a majority stake in AppsforAgri.

The partnership between Brokking and AppsforAgri will enhance the growth and development of iCrop and SmartFarm in many ways. Brokking will leverage its expertise, financial resources, and extensive network to help further develop the iCrop and SmartFarm brands and conquer new markets worldwide. AppsforAgri’s partnership with Brokking also offers synergies and more opportunities to increase the effectiveness and efficiency of farmers.