FoodChain ID Acquires Lexagri
FAIRFIELD, Iowa and ST JULIEN EN GENEVOIS, France, Nov. 7, 2022 /PRNewswire/ -- FoodChain ID, a leading provider of technology-enabled food safety, quality, and sustainability solutions, has acquired Lexagri International, a leader in the AgTech industry focused on verifying, harmonizing, structuring, and distributing global agricultural data. FoodChain ID is a portfolio company of Berkshire Partners.
"Lexagri's services are focused on data enhancement, and their data harmonization processes transform raw, untreated agricultural data into standardized, validated, and accessible data sets. This expands FoodChain ID's scope of regulatory and compliance content into crop protection and brand registration data, allowing us to serve our food customers even more effectively and to strengthen our reputation as a trusted source of data-driven, actionable insights from farm to fork," explains Brad Riemenapp, Chief Executive Officer of FoodChain ID.
Lexagri's services enhance the performance, quality, safety, and traceability of agricultural production. Homologa® is the largest pesticide database in the market with over 33 million entries including Good Agricultural Practices (GAP) data, logistics data and Maximum Residue Levels (MRLs). The company's mobile app PhytoScan® leverages an integrated label scanner for on-farm use that provides immediate access to up-to-date product regulatory and safety information to ensure proper use, ensuring compliance at the farm level ensuring the production of safe foods.
Other products include Basagri and Phytodata, which are reference data sources for crop protection information in France that compare and contrast registered and certified data, and Agrowin, a service package for top tier chemical companies allowing them to analyze crop protection and seed market data providing access to harmonized and consolidated global agricultural market data.
"Lexagri's aim has always been, and continues to be, to become the global harmonized reference provider of regulatory crop protection data for the industry, digital farming, and the food chain. As part of WEKA Group and with the support of its shareholder, Lexagri was able to pursue this goal and to grow the business over the past years. The upcoming integration of Lexagri with FoodChain ID will be another step in this direction. We will be able to enhance the link between "farm and fork" through an easier data flow and more transparency." notes Fritz Schuster, Chief Executive Officer of Lexagri.
Hennepin Partners LLC served as financial advisor, RSM France served as accounting advisor, Gide Loyrette Nouel A.A.R.P.I. served as legal advisor in France and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor in the US to FoodChain ID. Carlsquare GmbH served as financial advisor and Astura served as legal advisor to Lexagri.
About Lexagri
A leader in the AgTech industry, Lexagri is committed to making global agricultural data accessible. Working closely with expert collaborators located in major markets worldwide enables them access to the latest and most up-to-date data, providing clients quick access to scalable data in a harmonized structure. To learn more about their solutions and services, please visit lexagri.com. Previously, Lexagri was a subsidiary of WEKA Group GmbH, a portfolio company of Paragon Partners GmbH.
About FoodChain ID
Over 30,000 companies across the global supply chain rely on FoodChain ID as their trusted partner to navigate the increasingly regulated food economy with greater transparency, safety, and sustainability. By providing clients with technology-enabled solutions supported by the industry's most comprehensive data and knowledgeable experts, FoodChain ID is an essential source of timely, accurate information and expertise. Services include the company's innovative regulatory compliance and product development applications, as well as testing, food safety, and product certification solutions. Visit foodchainid.com for more information.
About Berkshire Partners
Berkshire Partners, a Boston-based firm, has 35 years of investment history. Berkshire Private Equity has made more than 135 private equity investments since its inception and has a strong history of partnering with management teams to grow the companies in which it invests. Stockbridge, the firm's public equity business, was founded in 2007 and seeks to make public equity investments in high-quality companies with strong competitive positions and long-term growth prospects. The firm invests in business services & technology, communications, consumer, healthcare, and industrials companies. For additional information, and to see a full list of the firm's private equity investments, visit www.berkshirepartners.com.
About WEKA Group
WEKA Group is a diversified group of media companies and a leading provider of specialist information and advanced education with 20 companies across GSA and France. WEKA Group's media-neutral content is offered in all common formats and reaches highly diversified niche markets across all industries. WEKA Group is headquartered in Kissing, Germany, and employs approximately 1,200 employees.
SOURCE FoodChain ID Inc
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