ForFarmers N.V.: Approval from competition authority for sale of ForFarmers’ Belgian compound feed activities to Arvesta
29 Setembro 2023 - 3:00AM
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
RelationsM +31 (0)6 10 94 91 61 • E:
caroline.vogelzang@forfarmers.eu
About ForFarmersForFarmers 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 ArvestaArvesta 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.euStephanie Deleul, Communications Manager M: +32
(0) 476 94 35 65 • E: Stephanie.Deleul@arvesta.eu
FORWARD-LOOKING STATEMENTSThis 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.
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