AgriFORCE Growing Systems Ltd. (NASDAQ:AGRI) an intellectual property-focused AgTech company dedicated to advancing sustainable cultivation and crop processing, has entered into a binding letter of intent to acquire Deroose Plants NV, one of the largest tissue culture propagation companies in the world with a leadership position in horticulture, plantation crops and fruit and vegetables.
The net purchase price by AgriFORCE is expected to be approximately US$69 million. The purchase price represents approximately $46.4 million for the Deroose business on a cash and debt-free basis and $22.6 million for the IP portfolio.
