Smile Invest NV purchased a substantial minority stake in Microflor Nv, a Lochristi, Belgium-headquartered company that breeds and propagates Phalaenopsis orchids and other tropical plants.
The Floré family will remain a majority shareholder in Microflor. The company supplies young plants across Europe and the Americas out of its laboratories and production plants in Belgium and Slovakia.
Smile Invest will help Microflor actively pursue acquisitions and leverage its expertise in in-vitro propagation and breeding technology, Microflor CEO Febe Floré said in a release.
Smile Invest said Microflor marks its fourth portfolio company in the neighboring states of Belgium, Netherlands and Luxembourg.
