Lochem, 4 January 2024
ForFarmers completes acquisition of Piast Pasze Sp. z.o.o.
Via its affiliate Tasomix Sp. Z.o.o. ("Tasomix") ForFarmers has completed the acquisition of Piast Pasze Sp. z.o.o. ("Piast"), which had already been announced on 25 July 2023. All conditions regarding this transaction have been met, including the approval of the competition authority.
The enterprise value is the sum of a payment to the shareholders of Piast and the net debt. The enterprise value will be paid in local currency, which amounts approximately 30,6 million in Euro's. Tasomix received thus 100% of the shares in Piast.
This means that Tasomix and Piast will be merging their feed business. This will expand Tasomix's volume in Poland by 410,000 tonnes and strengthen its position in the broiler sector in particular.
This transaction is in line with ForFarmers' strategic objectives to expand in the attractive Polish agricultural market.
This press release contains information that qualifies as inside information within the meaning of Article 7 paragraph 1 of the EU Market Abuse Regulation.
Note to the editor / For further information:
Floor van Maaren, T; 06-29597746
About ForFarmers
ForFarmers N.V. is an international organisation that provides complete innovative feed solutions to the livestock farming industry. With its For the Future of Farming mission ForFarmers underpins its commitment both to the continuity of farming and to further increasing the sustainability of the agricultural sector. ForFarmers is a leading feed producer in Europe with annual sales of around 9 million tonnes of animal feed and is active in the Netherlands, Belgium, Germany, Poland and the United Kingdom. ForFarmers has around 2,500 employees and in 2022 generated revenue of approximately €3.3 billion. ForFarmers N.V. is listed on Euronext Amsterdam.
ForFarmers N.V.
P.O. Box 91, 7240 AB Lochem, The Netherlands
T: +31, www.forfarmersgroup.eu
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements, for example relating to ForFarmers' legal obligations in terms of capital and liquidity positions in certain specified scenarios. In addition forward-looking statements may, without limitation, contain phrases such as "intends to", "expects", "takes into account", "is aimed at", 'plans to", "estimates" and/or words of a similar meaning. These statements pertain to or may affect matters in the future, such as ForFarmers' future financial results, business plans and current strategies. Forward-looking statements are subject to a number of risks and uncertainties which may lead to material differences between the actual results and performance and the expected future results or performance as implicitly or explicitly contained in the forward-looking statements. Factors that may result in, or contribute to, deviations from current expectations include, but are not limited to developments in legislation, technology, taxation, jurisprudence and regulations, share price fluctuations, legal proceedings, investigations by regulatory bodies, the competitive landscape and general economic conditions. These and other factors, risks and uncertainties that may affect any forward-looking statements or the actual results of ForFarmers are discussed in the most recently published annual report. The forward-looking statements in this press release relate solely to statements as of the date of this document and ForFarmers accepts no obligation or responsibility whatsoever to update the forward-looking statements contained in this release, regardless of whether these pertain to new information, future events or otherwise, unless ForFarmers is legally obliged to do so.
