Hasfarm Holdings

What Hasfarm Holdings does

Hasfarm Holdings is a privately held Hong Kong-headquartered holding company founded in 1994 that operates the largest tropical highlands production platform for temperate flowers in Asia. Through six wholly-owned operating subsidiaries the group is vertically integrated from propagation and growing to wholesale distribution: Dalat Hasfarm (Vietnam, flagship cut flower and pot plant production), Kunming Hasfarm Flowers (China, greenhouse production in Yunnan with a young plants JV with Hilverda Kooij), Toba Hasfarm / PT Tamora Stekindo (Indonesia, tissue culture micro-propagation producing 18 million cuttings annually), Greenwings Japan (leading cut flower importer with four regional sales offices), Greenwings New Zealand (export of NZ flowers and foliage), and Bio-Pro (biological pest control). The group employs 3,772 people across these entities as of 2018 and produces chrysanthemum, rose, carnation, alstroemeria, hydrangea, lisianthus, lily, and tulip.

The business model is B2B transaction-based across two primary go-to-market motions. Production subsidiaries supply cut flowers, pot plants, young plants, micro-cuttings, and bio-control products to professional growers and wholesale distributors; distribution subsidiaries (Greenwings Japan and Greenwings New Zealand) then import, export, and distribute these products to end customers across Japan, China, Vietnam, and Oceania. Greenwings Japan alone imported 110+ million stems in 2017. Core enabling technology consists of high-tech greenhouse horticulture, cool chain management for flower freshness, tissue culture micro-propagation, and proprietary biological pest control using in-house-produced predator insects and micro-organisms, all of which support consistent year-round supply of temperate flowers from low-cost tropical and southern-hemisphere geographies into higher-priced temperate markets.

Revenue is generated through arms-length sales of flowers, propagation materials, and bio-control products, with no public pricing disclosure and no institutional investor or PE backing in the source data. The group expanded materially between 2010 and 2018 through four acquisitions and the launch of Bio-Pro, and most recently extended into clean vegetable production. Charles Target serves as Chairman; the company has no public listing and no disclosed cap table.

Name

Hasfarm Holdings

Legal name

Hasfarm Holdings

Website

https://hasfarmholdings.com

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Hasfarm Holdings is a privately held, Hong Kong-based holding company that operates the largest tropical highlands grower of temperate flowers in Asia, with vertically integrated production in Vietnam, China, and Indonesia and distribution across Japan and New Zealand, serving professional growers and wholesalers.

Ownership category

akta.pro rank

Product category

Floriculture

NAICS

Floriculture Production (111422), Greenhouse, Nursery, and Floriculture Production (1114), Nursery and Floriculture Production (11142)

SIC

Agricultural Production-Crops (100)

akta.pro primary industry

Greenhouse Floriculture (Cut Flowers) (AFAGAHAD)

akta.pro secondary industry

Protected Cultivation of Specialty Crops (Orchids, Bonsai, Exotics) (AFAGAHAH)

Keywords

• Cut flower production
• Greenhouse horticulture
• Flower distribution
• Biological pest control
• Tissue culture propagation

Headquarters

HQ city

Central

HQ country

Hong Kong SAR China

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Cut Flowers and Pot Plants Sales: Production and sale of temperate flowers including chrysanthemum, rose, carnation, alstroemeria, hydrangea, lisianthus, lily, and tulip. Sold through own distribution networks and retail channels.
2. Young Plants / Propagation Materials: Production of micro-cuttings and propagation materials through Dalat Hasfarm Young Plants and joint venture Kunming Hasfarm Young Plants with Hilverda Kooij. Sold to professional growers worldwide.
3. Flower Import and Distribution: Greenwings Japan imports and distributes cut flowers throughout Japan as exclusive distributor for Hasfarm products from Vietnam and China. Also imports from Colombia, Kenya, New Zealand, and Holland.
4. Bio Products and Natural Enemies: Bio-Pro supplies beneficial pests and fungi to professional growers in Vietnam for flower and vegetable production, reducing reliance on chemical pesticides.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels1 record

Core offering

Hasfarm Holdings is a vertically integrated producer and supplier of cut flowers, pot plants, and young plants (propagation materials) operating across Asia-Pacific. The group grows temperate flowers in high-tech greenhouses in Vietnam, China, and Indonesia, distributes them through its own wholesale and retail networks in Vietnam, China, and Japan, and supplies propagation materials and biological pest control products to professional growers worldwide.

Product overview

Hasfarm Holdings operates as a vertically integrated flower and horticulture conglomerate with a platform-plus-subsidiary structure. The core holding encompasses production subsidiaries across Vietnam (Dalat Hasfarm, Bio-Pro), China (Kunming Hasfarm Flowers), and Indonesia (Toba Hasfarm), while distribution subsidiaries operate in Japan (Greenwings Japan) and New Zealand (Greenwings). Dalat Hasfarm serves as the flagship operation, producing cut flowers, pot plants, and young plants for the Asia-Pacific market. Bio-Pro provides biological pest control products and natural enemies for sustainable growing. Kunming Hasfarm operates greenhouse farms in Yunnan Province as a leading carnation exporter. Toba Hasfarm delivers micro-propagation services through tissue culture laboratories. Greenwings Japan and Greenwings New Zealand handle distribution and export of fresh cut flowers in their respective markets. The portfolio also includes retail and wholesale networks in Vietnam and China, with recent expansion into vegetable production.

Differentiator

Problem solved

Functional benefit

Products and services

• Dalat Hasfarm
• Hasfarm Young Plants
• Kunming Hasfarm Flowers
• Toba Hasfarm
• Bio-Pro
• Greenwings Japan
• Greenwings New Zealand

Quantifiable outcome

• 110+ million stems imported by Greenwings Japan in 2017
• +1 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Two partnerships are on record, tiered core.

• Hilverda KooijcoreStrategic or Co-development PartnerJoint venture with Hilverda Kooij (world's leading breeder of carnation varieties) to form Kunming Hasfarm Young Plants, which sells young plants to professional growers in China. Combines Hasfarm's local production capabilities with Hilverda Kooij's breeding expertise.
• Flying Fresh InternationalcoreOthersAcquired in March 2014, Flying Fresh International was a long-established exporter of fine New Zealand flowers based in Auckland. The acquisition strengthened Greenwings New Zealand's position in sourcing premium New Zealand flowers and foliage.

Scale indicators7 records

Recent moves10 records

Expansion highlights6 records

Broad incumbents

• Syngenta Flowers: Global seed and crop protection major with a dedicated ornamental flowers business serving professional growers. Comparable to Hasfarm's combined flower genetics and Bio-Pro biological inputs offering, though embedded in a much larger agrichemical platform.
• Royal FloraHolland: World's largest flower auction and distribution platform based in the Netherlands. Comparable to Hasfarm's Greenwings Japan distribution franchise as a dominant intermediary between growers and buyers, though at vastly greater scale and breadth.

Regional players

• Oserian Development Company: One of Kenya's largest floriculture producers, exporting cut flowers globally (including to Asia/Europe). Comparable as a large-scale industrial cut-flower grower competing with Hasfarm's Asian production in international markets.

Direct peers

• Selecta One: European breeder and young plants producer of ornamental flowers and pot plants. Closely comparable to Hasfarm Young Plants and Toba Hasfarm propagation activities, serving professional growers with elite flower genetics.
• Hilverda Kooij: Dutch breeder and propagator specializing in carnation, alstroemeria, and other cut flowers; Hasfarm's JV partner in Kunming Hasfarm Young Plants. Directly comparable breeding and young-plants business targeting professional growers globally.
• Dümmen Orange: Global leader in floricultural breeding and propagation of cut flowers, pot plants, and bedding plants. Directly comparable to Hasfarm Young Plants and Toba Hasfarm's tissue culture propagation business across similar global customers.
• Florensis: European breeder and producer of young plants and starting material for ornamental flowers and pot plants. Closely comparable propagation and young plants business model to Hasfarm Young Plants and Toba Hasfarm tissue culture operations.
• Beekenkamp Group: Dutch family-owned breeder and producer of ornamental flowers, pot plants, and young plants. Directly comparable in breeding, propagation, and finished plant production targeting professional growers across multiple product categories.
• Ball Horticultural Company: US-based global breeder, producer, and distributor of ornamental flowers and vegetables. Comparable to Hasfarm in producing and distributing flower genetics, young plants, and inputs to professional growers across multiple continents.
• Finlays: Global grower and supplier of cut flowers (primarily from Kenya) and tea, with established Asia distribution. Comparable to Hasfarm's vertically integrated flower production and distribution model, especially versus African-origin supply competing in Japan.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/hasfarm-holdings

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hasfarm Holdings