New money, new equity injections, and new CEO for restructuring Dümmen Orange

Dümmen Orange has obtained additional cash to fund its restructuring business through an equity injection.

A consortium of current lenders, including ICG, J.P. Morgan Asset Management, Neuberger Berman, Tresidor and Triton Debt Opportunities, has bought a majority stake in the Dutch-German ornamental plant breeder and propagator.

The new owners’ capital injection will enable the company to access new funds to support growth and expansion in what is a highly competitive and fragmented business environment. It is also a financial ‘deleveraging’ strategy, which essentially comes to reducing debt.

Currently, Dümmen Orange is implementing a more focused strategy. The company aims to strengthen further its leadership position in market segments where it already has core competencies and a high level of expertise.

The company’s newly-appointed CEO, Anthony Christiaanse, refers to the company’s strategic agenda to maintain its position as a global leader in floriculture. He said: “I look forward to leading this wonderful, innovative company. Dümmen Orange remains committed to fostering strong partnerships within the industry and continuing to deliver innovative, high-quality solutions that meet the evolving needs of our customers, ensuring the best production of quality starter material from our farms. These pillars are central to our mission of delivering excellence to our customers and partners, helping them to grow their businesses.”

Anthony Christiaanse joined Dümmen Orange as a member of the Executive Committee in January this year. Before that, he worked in senior roles for leading international companies such as Unilever, Chiquita, Aviko, and Vion.

Christiaanse succeeds Hugo Noordhoek Hegt, who has led Dümmen Orange since 2019. Noordhoek Hegt will remain involved with the company as a member of the Supervisory Board.

Additionally, Carola de Bie has taken up the role of Chief Financial Officer after serving as Dümmen Orange’s Head of Group Control. De Bie succeeds Arjan Kaaks, who, after five years as CFO, Arjan Kaaks has decided to leave the company and pursue other opportunities.