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 EUR25 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
(mailto: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 EUR3.3
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 (mailto:info@forfarmers.eu), www.forfarmersgroup.eu
(http://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 (http://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.
Â