Clearwater International advises the Honoré family, owners of Plantas Group A/S, on the partnership with Elkær Group and Lars Bay-Smidt
Clearwater International has advised the Honoré family - owners, and operators of Plantas Group A/S - on the sale of minority stakes to family office Elkær Group and Lars Bay-Smidt. Plantas Group is one of Europe's largest wholesalers of plants and flowers, and supplies its products to supermarkets, florists, garden centers, kiosks and petrol stations. It employs 180 people and generated revenue of €112m (DKK 840m) and EBITDA of €4m (DKK 30m) in 2019/20.
The Honoré family has owned and operated Plantas since 2006, and through this transaction, the Group aims to strengthen the ownership structure to ensure future growth, new business opportunities and management succession.
In addition to his role as a co-owner, Lars Bay-Smidt will take over as the new CEO of Plantas Group. Lars Bay-Schmidt has vast operational experience within the industry and has been a member of Plantas Group’s board for the past six years. Michael Honoré joins as chairman of the board after several years as CEO of the company.