Husqvarna Group to acquire InCeres - a digital platform in the light agriculture segment
Husqvarna Group has signed an agreement to acquire the Brazilian company InCeres, a digital platform in the Professional light agriculture segment. InCeres is an expert in soil analysis that facilitates decision-making and improves productivity for farmers. Its precise agriculture digital platform will act as the cornerstone for establishing Husqvarna Group’s Total Farm Management offering in the Light Agriculture business unit within the Husqvarna Forest & Garden Division.
With climate change, farmland reduction, healthier food demand and an increasing population, Husqvarna Group anticipates that more food needs to be produced from less land, requiring new technologies and ways of working. By digitizing all activities and measurements on the farm and then generating AI-assisted agronomic advice, farmers can reduce this uncertainty and be empowered to make the right decisions for their specific issues.
“Our envisioned Total Farm Management solution can combine digital intelligence on the one hand and our mechanical solutions on the other hand. Such an offering will be truly disruptive, and Husqvarna Group aspires to be the first company to develop such a complete offering for light agriculture applications”, says Mauro Favero, Light Agriculture President, Husqvarna Forest & Garden Division. “This offering will create go-to-market synergies with Husqvarna Group’s current agriculture solutions, driving a higher conversion of light agriculture farmers into a unique and trusted Husqvarna one-stop-shop ecosystem that creates value, convenience, and efficiencies across the whole crop cycle.”
InCeres, founded in 2014, has 35 employees and total sales in 2023 amounted to SEK 9.3m, growing 50% since 2022. InCeres has a highly scalable business model based on subscription, where 100% of the revenues are recurring.
“After having established and proven our solution, we are ready to expand the customer base and grow our business together with Husqvarna Group. We feel confident that our combined knowledge and experience can create a Total Farm Management offering that improves productivity for farmers around the world,” says Leonardo Menegatti, founder and CEO of InCeres.
InCeres will be integrated in the Light Agriculture business unit in the Husqvarna Forest & Garden Division. The ambition for the Light Agriculture business unit is to provide the means for sustainable food security to people around the world.
The purchase price is not material relative to Husqvarna Group’s market capitalization and is not disclosed. Completion of the transaction is subject to certain conditions precedent, including antitrust approval by the local authority.
For additional information, please contact:
Media
Henrik Sjöström, Head of External Communications
+46 727 15 77 85
press@husqvarnagroup.com
Investors
Johan Andersson, Vice President Investor Relations
+46 702 100 451
ir@husqvarnagroup.com
Husqvarna Group
Founded in 1689, Husqvarna Group has evolved into a global leader in manufacturing innovative products and solutions for managing forests, parks, and gardens. Our diverse product range includes robotic lawnmowers, chainsaws, trimmers, riding lawnmowers, and watering solutions. Husqvarna Group is also a leader in equipment and diamond tools for the light construction industry and diamond tools for the natural stone industry. Operating mainly under the global brands of Husqvarna and Gardena, our products and solutions reach consumers and professional users through direct sales, dealers, and retailers across more than 100 countries. Net sales in 2023 amounted to SEK 53.3 billion and the Group has approximately 13,800 employees in 40 countries. The headquarter is in Stockholm, Sweden and the company is listed on Nasdaq Stockholm.
InCeres
InCeres was founded in 2014 based on experience with consultancy involving precision agriculture and soil fertility management, associated with extensive fieldwork and laboratory soil analysis. The company's development of innovative solutions was greatly supported by research institutions such as FAPESP and the Ministry of Science and Technology and ESALQ/USP, being widely recognized as a deep tech company that works with basic science knowledge to create businesses. InCeres provides solutions for farmers, consultants, plants, cooperatives, and resellers that allow them to control and manage all soil variables during the farmer's journey, allowing better decisions for soil fertility and plant nutrition, input purchasing positioning, increment productivity, and cost reduction. It currently operates on more than 5 million hectares in Brazil, Colombia, Paraguay and Bolivia.