Duke Street, a European mid-market private equity group, has completed the acquisition of COMPO, the largest European producer and distributor of consumer gardening soil, fertiliser, plant protection and lawn seeds.
Headquartered in Münster, Germany, COMPO was previously owned by Kingenta Ecological Engineering Group Co. Ltd. (“Kingenta”), a publicly listed company and one of the leading fertilizer producers in China.
A market leader across continental Europe, COMPO has created an impressive range of technically superior products – including soil, fertiliser, plant care, and lawn care. The organisation owns first class production and distribution infrastructure and has established brands that are recognised and respected amongst distribution customers and consumers alike.
COMPO has pioneered bio gardening products, including peat substitutes, helping to position the company at the forefront of the sustainability agenda.
The completion of the acquisition sees Duke Street back a very strong management team as it seeks to build and consolidate COMPO’s position in the industry across Europe. The team is led by Stephan Engster as CEO of COMPO, who joined the business in 2016 and has developed an exciting growth strategy for the company, which is underpinned by continuous innovation and aligns with Duke Street’s vision for the opportunities presented in the sector, which include M&A in Europe and the UK.
The horticulture market has shown strong signs of growth as gardening boomed throughout lockdowns and has accelerated the trend of sustainable-conscious consumers seeking eco-friendly products to tend to their gardens.
Paul Adams, Partner, Duke Street, says: “We are thrilled to complete the acquisition of COMPO, a market leader in traditional and bio-based gardening products in continental Europe – and a brand that has carved out a clear ESG leadership position with its bio products, including a full range of peat substitutes.
“There has been a surge in interest in gardening, with consumers embracing the benefits brought to their lives. This trend is set to continue, and we look forward to partnering with COMPO’s management team in implementing the strategy supported by significant investment from us and our investors. This is with a view to enabling long-term organic and acquisitive growth across Europe, including the UK.”
Stephan Engster, CEO, COMPO, says: “We at COMPO look forward to partnering with Duke Street and delivering the next chapter of our growth story. The deal provides a springboard for organic and acquisitive growth as we seek to build a diversified European business that best serves our customers from across the continent and beyond. Natural and sustainable products will always remain at the heart of our business as we stay true to our values and as sustainably-conscious consumers increasingly prioritise such offerings. Given their unfaltering focus on ESG, this makes Duke Street the perfect partner for the next exciting stage of our evolution.”
