Kittanning-based Sylvan Inc., a producer and distributor of mushroom spawns, has agreed to be acquired by Jiangsu Yuguan Modern Agriculture Science And Technology (Yuguan China).
The Yuguan Group, led by Mr. Jianguang Huang, has been involved in commercial mushroom growing, processing and sales for 30 years. Yuguan China, founded in 2010, is the largest modern farm in China, producing 120 million pounds of fresh mushrooms for the Chinese domestic market. It is supported in the acquisition by KKR, a leading U.S.,-based private equity firm.
Sylvan CEO Mark A. Snyder said his company has a long and close relationship with Yuguan, which is 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 expected that Sylvan will continue to operate as a separate division under its current management team.
