Lochem, 29 June 2024
ForFarmers strengthens its position in co-products through acquisition of Van Triest Veevoeders
ForFarmers announces that it has entered into an agreement to acquire Van Triest Veevoeders (Van Triest), which specialises in trading residual flows and co-products.The acquisition concerns the buying and selling activities, including the associated storage and transshipment facilities and means of transport.ForFarmers, under the name CirQlar, is already active in supplying co-products and residual flows.This acquisition fits into ForFarmers' mission For the Future of Farming: by using more and more co-products, we contribute to a sustainable future with affordable and sustainable food by producing dairy, meat and eggs.
Van Triest, family business in Hoogeveen
Van Triest has been active in trading residual flows and co-products since 1959. The company has purchasing agreements with breweries, the dairy, sugar, bioethanol and potato processing industries and, as regards roughage, with many farmers. They sell the products, including brewer's grains, potato pulp, silage maize and wet beet pulp to some 3,500 farmers mainly in the Netherlands but also in Belgium and Germany. Van Triest has a very good infrastructure in terms of logistics, storage and transshipment and possibilities for mixing residual flows in Hoogeveen and Coevorden. Van Triest trades over 1 million tonnes of residual flows annually and has 90 employees.
Important step in sustainable market segment
ForFarmers, under the name CirQlar, has been active in the Netherlands in supplying and valorising co-products. and has storage and transshipment sites in Lochem and Heijen.
Van Triest's locations and customer base fit seamlessly with ForFarmers' activities and offer good growth opportunities. This transaction strengthens the cooperation with suppliers of residual flows and co-products to make the food chain more sustainable in an efficient way. These products which are not suitable for human consumption can often be used to produce nutritious feed for cows, pigs and chickens.
Pieter Wolleswinkel, CEO ForFarmers: "We are looking forward to working together with our new colleagues at Van Triest. Combining our activities means that we can serve our suppliers co-products even better and provide our customers with an even better and broader range of these products. In addition, we are taking a further step in making our food chain more sustainable."
Hein van Triest, director and owner of Van Triest: "We have known ForFarmers for years and recognised a similar focus on customers and employee satisfaction. These were important factors in the decision to transfer our family business to ForFarmers."
Subject to the approval of the Consumer and Market Authority, ForFarmers will acquire the shares of Van Triest, the company which includes the trading operations and associated transport equipment and storage and transshipment activities. Completion of the transaction is expected in the second half of 2024. The purchase price will be paid entirely in cash, further financial details will not be disclosed. The management of Van Triest will remain actively involved after completion of the transaction.
This press release contains information that qualifies as inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
Note to editors / For more information:
ForFarmers, Ilse Niehof-Duivelshof, ilse.niehof@forfarmers.euor +31 (0)6 23 63 28 98
Company profileForFarmers
ForFarmers N.V., www.forfarmersgroup.eu
Company profile Van Triest
Van Triest is a family business that, since its foundation in 1959, has grown into a professional enterprise specialising in the purchase and sale of high-quality moisture-rich concentrates and roughage. Van Triest forms a reliable link between suppliers and buyers. Over the years, sustainable relationships have been established with over 3,500 livestock farmers, providing a solid basis for our sales. The company has purchasing agreements with breweries, the dairy, sugar, bioethanol and potato processing industries and, as regards roughage, with many farmers. They sell the products, including brewer's grains, potato pulp, silage maize and wet beet pulp to some 3,500 farmers mainly in the Netherlands but also in Belgium and Germany. Van Triest has a very good infrastructure in terms of logistics, storage and transshipment and possibilities for mixing residual flows in Hoogeveen and Coevorden. Van Triest trades over 1 million tonnes of residual flows annually and has 90 employees
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.
