Business
Portfolio company Tropic acquires Rahan Meristem
Agronomics Limited announces that its portfolio company, Tropic Biosciences, has acquired Rahan Meristem for US$20 million, a move expected to significantly accelerate Tropic's commercialisation of its proprietary banana varieties. Rahan Meristem, a 50-year-old business with operations in key banana-growing regions and a propagation capacity of over 30 million plants annually, provides Tropic with an established production and distribution platform. This acquisition grants Tropic direct access to growers, enhancing product development and commercial launches through Rahan's infrastructure, expertise, and customer base, following Tropic's recent US$105 million Series C funding and the launch of new banana varieties. Agronomics' investment in Tropic to date totals £2.3 million, with its current position valued at approximately £2.2 million, representing 1.6% of Agronomics' Net Asset Value. Disclaimer*
About this update from Agronomics Limited
Agronomics portfolio company Tropic acquires Rahan Meristem ("Agronomics" or the "Company") Agronomics Limited (LSE: ANIC), the leading listed company focused on clean food, is pleased to announce that its portfolio company Tropic Biosciences UK Limited ("Tropic") has acquired Rahan Meristem (1998) Limited ("Rahan"), one of the world's leading banana propagation businesses, for US$ 20 million. Rahan has operated for more than 50 years and has an established presence in Colombia, Costa Rica, Ecuador, the Philippines and Israel. The business has capacity to propagate more than 30 million plants per year and is recognised for its tissue culture and propagation expertise, principally in Cavendish banana seedlings as well as other crops including pineapple and avocado. The acquisition gives Tropic access to an established production and distribution platform in key banana-growing regions, supporting the scale-up and commercialisation of its proprietary banana varieties. The transaction is expected to provide Tropic with a direct route to growers and to accelerate product development and commercial launches through access to Rahan's production infrastructure, field testing plots, mother plantations, agronomy know-how and customer base. The news follows a milestone year in which Tropic raised US$ 105 Million in a Series C round, and launched the first new commercial banana varieties in more than 75 years. These include a non-browning banana - named one of TIME Magazine's Best Inventions of 2025 - and an extended shelf life variety that lengthens green life by an additional 12 days, increasing field yields, enabling new export routes and reducing transportation waste by up to 50 percent. Tropic uses its proprietary GEiGS® platform and other advanced gene-editing technologies to develop improved crops with enhanced disease resistance, higher yields and more sustainable traits. Its current core crop portfolio focuses on banana and rice, crops that support the livelihoods of billions of people globally. Tropic's technology platform is designed to address global agricultural challenges by developing crop solutions intended to benefit farmers, consumers and the environment. Jim Mellon, Executive Chairman of Agronomics, commented: "The global food supply chain is facing significant pressure, with climate change accelerating the need f...
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