TPG Asia-backed Hasfarm to acquire Lynch Group for AUD270m.

TPG Asia-backed Hasfarm, a tropical highlands grower, agreed to acquire Lynch Group, a vertically integrated wholesale floral company, for AUD270m. "The Lynch Board has carefully considered the proposed acquisition of Lynch by Hasfarm and unanimously supports the Scheme. After a thorough assessment of the strategic, financial and operational considerations, we believe that the Scheme represents a compelling opportunity for Lynch shareholders. The all-cash offer provides liquidity at a premium to Lynch's recent share price and delivers certainty of value for Lynch shareholders, while recognising the long-term potential of Lynch's assets and people under Hasfarm's ownership," Peter Clare, Lynch Non-Executive Director.