Irish mushroom grower Monaghan Mushrooms has acquired Belgian substrate producers Walkro after buying 100 per cent of its shares.
Monaghan Mushrooms, headquartered in County Monaghan, is now the sole shareholder having bought the remaining shares off Belgian private equity frim Gimv, who announced the news.
Walkro was founded in 1991 and has grown into one of the largest producers of substrate in the mushroom industry, producing around 8,500 substrates per week, from three facilities in Belgium, Holland and Germany.
Monaghan mushrooms originally acquired Walkro together with Gimv in 2011. Since then Walkro’s turnover has increased to over €75million, making it one of the largest mushroom substrate producers in the world.
The Walkro management has underlined its confidence in the new corporate structure by purchasing shares from Monaghan, while current CEO Eric Houben will become a board member at the company.
