Sun European Partners has entered into an agreement to acquire a majority stake in Afriflora, the world's largest grower of roses, while retaining the Barnhoorn family's involvement in the company's operations.

Information on the Target

Afriflora is recognized as the world's largest producer of roses, primarily supplying high-quality blooms that meet fair trade standards to the European market. Established in 2005 by the Barnhoorn family, the company is headquartered in Aalsmeer, Netherlands, and operates three expansive farms in Ethiopia, spanning a total of 500 hectares. Afriflora employs over 11,000 workers, demonstrating its significant role in the local economy while producing more than 1.1 billion stem roses annually.

The Barnhoorn family, as the founders and majority shareholders, will retain their positions as shareholders and directors within Afriflora. With the backing of Sun European Partners, the family aims to sustain the business’s commitment to exceptional customer service while adhering to best practices in environmental and social responsibility, particularly in relation to the Ethiopian communities where they operate.

Industry Overview in Ethiopia

The horticulture industry in Ethiopia has experienced substantial growth over the past decade, fueled by the country's favorable climate and rich soil, which are ideal for flower cultivation. Ethiopi