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 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)
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.
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