Key Takeaways
- Groupe Thomas Plants and Tecnosem have combined to form Groupe Flore, creating what the companies describe as the leading player in the French vegetable seedling market.
- The new group operates four production sites spanning more than 60 hectares, located in Brittany and the south of France, the country's two main vegetable-growing regions.
- Galiena Capital takes a majority stake in the transaction, structured as a secondary leveraged buyout, while Thomas Plants' existing shareholders — TRAJAN, Cèdre, Enthéos and Halisol Groupe — reinvest to hold a minority position.
- Bpifrance has also entered the shareholding structure as part of the deal.
- Oaklins France advised Groupe Thomas Plants and its shareholders on both the M&A process and the financing of the Tecnosem acquisition.
Groupe Thomas Plants Acquires Tecnosem
Groupe Thomas Plants, which also includes Provence Plants, has acquired Tecnosem, owner of the Biosem brand, in a deal advised by Oaklins France. The transaction was structured as a secondary leveraged buyout involving new sponsor Galiena Capital, an investor that becomes the majority shareholder in the combined business.
The resulting company, named Groupe Flore, is described by its backers as the new leader in the French market for vegetable seedlings, known locally as “plants maraîchers.” The group brings together four production companies across more than 62 hectares of cultivation, with sites concentrated in Brittany and southern France — the two regions that account for most of the country's open-field and greenhouse vegetable production.
Combined Production Capacity and Technology
According to Groupe Thomas Plants, the combined entity includes a molecular biology laboratory alongside its production sites. The company said the merger is intended to serve open-field growers, specialist and generalist greenhouse operators, and industrial producers, drawing on the automated production capabilities of both Thomas Plants and Tecnosem.
Groupe Thomas Plants Shareholding Structure
Under the deal, Thomas Plants' existing shareholders — investment firms TRAJAN, Cèdre, Enthéos and Halisol Groupe — reinvested a significant amount to retain a minority stake in Groupe Flore alongside Galiena Capital, which holds the majority. Public investment bank Bpifrance also joined the capital structure as part of the transaction.
The new group is led by Nicolas Paul. Groupe Thomas Plants said the combined business intends to pursue organic growth and further consolidate a French seedling market it describes as still fragmented, with more than 150 active companies, in support of the country's food self-sufficiency goals.
Advisor Comment
“The coming together of these two players, the most successful in the market, seems like an obvious step, given how strong the complementarities and synergies are between them. This transaction, in which Galiena Capital stood out for its determination, is part of Nicolas Paul and Trajan's strategy to establish themselves as the reference player in the French market,” said Ghislain de Feydeau, Executive Director at Oaklins France.
Oaklins France said it acted as M&A and financing advisor to Groupe Thomas Plants and its shareholders throughout the transaction. Each company within the new group will retain its individual brand identity, according to Groupe Thomas Plants.
