ForFarmers N.V.: Approval from competition authority for sale of ForFarmers’ Belgian compound feed activities to Arvesta
Lochem, 29 September 2023
Approval from competition authority for sale of ForFarmers’ Belgian compound feed activities to Arvesta
The Belgian competition authority has today approved the sale by ForFarmers of its compound feed activities to Arvesta. This transaction, as announced on 4 April 2023, means that Arvesta takes over the compound feed activities, the employees, the production site in Izegem and the mill in Ingelmunster in West Flanders from ForFarmers. ForFarmers’ sale activities regarding co-products, organic feed by Reudink and horse feed by Pavo are excluded from this transaction.
The transaction will be closed by mid-October, when ForFarmers will receive a net amount of €25 million in cash from Arvesta as agreed in the sale / purchase agreement.
This transaction fits in with ForFarmers’ strategic focus, with an emphasis on ecological and economic returns. This acquisition is also in line with Arvesta’s continued strategy and strengthens its position on the Belgian market for the benefit of the customer in order to continue to build the agriculture of tomorrow.
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:
Caroline Vogelzang, Director of Investor Relations
M +31 (0)6 10 94 91 61 • E: caroline.vogelzang@forfarmers.eu
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 (0)573 28 88 00
info@forfarmers.eu, www.forfarmersgroup.eu
About Arvesta
Arvesta is building the agriculture of tomorrow in a sustainable manner thanks to its unique expertise and innovative smart farming solutions. We are active in animal nutrition, agriculture, horticulture and retail with our 200 Aveve stores. In this way we help farmers grow and increase their yield. With more than 2000 experts and 40 strong brands, Arvesta is a knowledge center for both farmers and consumers. As a full service provider for farmers and horticulturists, Arvesta is a leading player in Belgium and also internationally active with branches in the Netherlands, France and Germany. In this way, we achieve an annual turnover of 1.9 billion euros.
www.arvesta.eu
Stephanie Deleul, Communications Manager
M: +32 (0) 476 94 35 65 • E: Stephanie.Deleul@arvesta.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.
