RZ-100-wt4-E-flipbook-240702 - Flipbook - Page 120
On the left, the management’s
Management buy-out 2.0
As part of this major reorganisation, several of
message to former employees about
Thanks in part to Cebeco’s help, the
Cebeco’s subsidiaries and participations are
the acquisition.
management buyout was made possible in 1989.
being put up for sale. Although Cebeco, given
On the right, Maarten Zwaan, Ben Tax
As part of the deal, Cebeco obtained 70 per cent
Rijk Zwaan’s substantially increased market
and Anton van Doornmalen while the
of Rijk Zwaan’s shares and pledged not to interfere
value, initially still tries to negotiate the price, the
sale of the shares is being signed off
in any way with the high degree of independence
Cebeco shares are eventually acquired by Anton,
by Cebeco.
that is so important to Rijk Zwaan. Although the
Ben and Maarten on the terms laid down in 1989.
relationship between Rijk Zwaan and Cebeco has
This makes Rijk Zwaan completely independent
been excellent in the years since the management
again for the first time since 1986, with all the
buyout, there are some concerns among the
shares coming into the hands of Maarten, Anton
Board members about the future. What if one
and Ben and once again helping to form a close-
of the Board members dies? This could create
knit family business. With this second phase, the
complications in the relationship with Cebeco.
management buyout is truly complete.
In 2002, all the conditions are right for the second
phase of the management buyout: full independence. Cebeco is in dire financial straits. Rijk Zwaan,
on the other hand, is much stronger financially
compared to 1989. On top of that, Cebeco’s
various member cooperatives have held a fundamental debate about Cebeco’s added value.
Cebeco, as a top cooperative, is considered to be
redundant by several member cooperatives, and
together with its house banker Rabobank, they are
pushing for Cebeco to be completely dismantled.
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Rijk Zwaan | Moving forward together
