Sylvan Inc. to be acquired by Yuguan
I am pleased to announce that Sylvan Inc. will be entering a new and exciting era in its evolution as a global player. We have recently executed an agreement with Jiangsu Yuguan Modern Agriculture Science And Technology, Ltd (Yuguan China) to acquire Sylvan Inc.
The Yuguan Group, led by Mr. Jianguang HUANG, has been dedicated to commercial mushroom growing, processing and sales for the past 30 years. Yuguan China, founded in 2010, is currently the largest modern farm in China, producing 120 million pounds of fresh mushrooms for the Chinese domestic market. Yuguan is supported in this investment by KKR, a US headquartered and globally renowned private equity fund with a strong track record in agriculture and food safety investments in Asia.
Sylvan has a long and close relationship with Yuguan and believe this merger will be highly beneficial to our customers. They are a highly reputable firm and are known for their innovation and dedication to quality in our industry. You should expect the same level of quality, products and continued high service levels with Yuguan.
It is anticipated that Sylvan will continue to operate as a separate division under its current management team.
Sylvan Inc. has provided quality products and dedicated technical support to our customers since 1946 and we will continue to build on this long and trusted relationship well into the future. We highly value and appreciate the relationship we have with customers like you and the business you’ve given us through the years.
Until all necessary approvals have been granted and the transaction has closed, Sylvan and Yuguan will continue to operate independently. In the meantime, we do not expect this transaction to impact Sylvan’s day-to-day business operations or engagement with our customers.
We sincerely thank you for our mutually beneficial business relationship over many years and we look forward to building on this in the future.
Mark A. Snyder
CEO & Chairman of the Board