With more than 35 years' experience, AGRO-SERVICE 2000 has become France's no.1 integrated distribution network supplying agricultural equipment to farmers and rural customers. With a network of 23 directly-owned stores, the Group offers an unparalleled product range with over 25,000 items listed.
AGRO-SERVICE 2000 operates a distinctive business model, offering a wide selection of consumables, tools and accessories on a self-service basis, together with a range of new non-motorised agricultural equipment, for a client base made up of farmers (hyper-specialist role) and rural customers (local trade).
The Group has significantly structured its business in recent years, notably by digitising its offering and customer relationship management system, and by diversifying its customer base, with BtoC sales now exceeding 30% of total revenue.
The Group has reported steady business growth of more than 3% annually over the past 10 years. This demonstrates the resilience of its business model, including during the current sanitary crisis. AGRO-SERVICE 2000 has recorded sustained growth in online sales and expects revenues in the region of €40 million for the 2020-2021 financial year.
Advised by ADVISO PARTNERS, the Group's majority shareholder NAXICAP PARTNERS is selling 100% of its holding to a consortium of investors made up of BPI France Investissement, SOFIMAC REGIONS, CREDIT AGRICOLE Centre France and ESFIN GESTION. The management team, already a shareholder in the Group, has shown its full support for the project by reinvesting significantly in the transaction.
Franck PIOT, Chairman of the AGRO-SERVICE 2000 Group: "The group aims to further its development, to continue to adapt to the new commercial landscape and to integrate the phygital project with determination. We keep a close eye on the market and will be open to external growth opportunities compatible with our project and the company's strong values, particularly in the livestock sectors, from meat and cheese processing to farming. I'm pleased to be embarking on a new entrepreneurial adventure, supported by our highly-experienced new reference shareholders. Having the company's top management alongside me as shareholders is also a great success."
Pierre-Antoine RUYSSEN, Investment Director at NAXICAP PARTNERS: "We are proud to have supported Franck PIOT and his team over the last 7 years. Over this period, AGRO-SERVICE 2000 has overhauled its business model and its offering. Over recent months, it has shown itself to be highly resilient in a challenging market environment, thereby demonstrating the relevance of its strategic positioning and the quality of its teams."
Emmanuel TISSIER, Managing Director of SOFIMAC REGIONS: "We worked for several months with BPIFRANCE, CACF DEVELOPPEMENT and ESFIN GESTION on this deal. The resilience of AGRO-SERVICE 2000's revenue model during the pandemic, the quality of its management, its strong roots in Auvergne and the Massif Central region, and the development plan presented by CEO Franck PIOT, forecasting strong revenue growth by 2025 in a fast-changing market, convinced us to support him in this new chapter."
Denis TALARON, Investment Director at BPI France: "We are delighted to invest alongside management to accelerate AGRO-SERVICE 2000's growth and to join this company located in the heart of our territory as it enters a new stage in its development."
Gilles COUDON, Managing Director of ADVISO PARTNERS "We are very pleased to have advised NAXICAP PARTNERS in this milestone transaction to restructure the capital of AGRO-SERVICE 2000, a company with a distinctive positioning in its market, an ambitious development strategy and a reference brand for its customers."
