Lochem, 25 July 2023
ForFarmers expands in Poland through acquisition of Piast Pasze Sp. z.o.o.
ForFarmers/Tasomix has come to an agreement with Piast Pasze Sp. z.o.o.
('Piast') to merge their feed activities. The volume of ForFarmers/Tasomix will
consequently increase by 410,000 tonnes. In addition, ForFarmers/Tasomix will
strengthen its position in the broiler sector in particular. The transaction is
pending the approval of the Polish competition authority. Closing of the
transaction is expected to take place in the fourth quarter of 2023.
ForFarmers/Tasomix is a large feed producer with over 30 years of experience on
the Polish market. The company has a strong position in the poultry sector and
also focuses on growing its position in both the ruminant and pig sector. One of
the strategic objectives of ForFarmers/Tasomix is to expand in the attractive
Polish agricultural market. The acquisition of Piast is entirely in line with
this objective.
Piast offers great cooperation opportunities
The history of Piast dates back to the 1970s with its original location in
Lewkowiec (Central Poland) that mainly focused on broiler and turkey farmers in
the free market. Over time, Piast expanded its portfolio of products for pigs
and cattle and acquired additional production locations in Plonsk, Golancz and
Olesno. There are 220 employees involved in management, sales, and production.
Due to the location of the mills of Piast versus those of ForFarmers/Tasomix, it
is possible to create dedicated mills to be able to produce more efficiently.
The larger geographical footprint provides opportunities to enlarge the customer
base. In addition, Piast owns two unique poultry feed technologies, which are
cost efficient, can well be applied at ForFarmers/Tasomix and also fit with the
sustainability strategy.
Pawel Swierkula, Managing Director of ForFarmers/Tasomix: "This cooperation is a
great step forward for both parties. Piast and ForFarmers/Tasomix have similar
company cultures and the same attitude towards customers. Working together
offers us a larger operating area in centers of growth in our country and will
therefore help us to enhance the solid platform to further develop and improve a
sustainable future for our business."
Adam Plewi?ski, co-owner of Piast, states: "We are very optimistic about the
transfer of our feed activities to ForFarmers/Tasomix. This will bring many
benefits and new perspectives to our customers who will be able to benefit from
the vast experience and knowledge that this international company has. We look
forward to working with their management to make this transaction a success."
This press release contains information that qualifies as inside information in
the sense of Article 7 paragraph 1 of the EU Market Abuse Regulation.
Note to the editor / For additional information:
Caroline Vogelzang, Director Investor Relations
T: 0031 573 288 000 M: 0031 6 10 94 91 61
E: caroline.vogelzang@forfarmers.eu
Pawe? ?wierkula, Managing Director ForFarmers/Tasomix
M + 48 510 22 00 22 ? E: pawel.swierkula@tasomix.pl
About ForFarmers N.V.
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 is committed to the continuity of farming
and to further increasing the sustainability of the agricultural sector.
ForFarmers is a prominent player in Europe with annual sales of around 9 million
tonnes of animal feed. The company is active in the Netherlands, Belgium,
Germany, the United Kingdom and in Poland, where it is branded
ForFarmers/Tasomix. ForFarmers has approximately 2,500 employees. In 2022
revenue amounted to approximately EUR3.3 billion. ForFarmers N.V. is listed on
Euronext Amsterdam.
ForFarmers N.V., P.O. Box 91, 7240 AB Lochem, T: +31 (0)573 28 88 00, F: +31
(0)573 28 88 99, info@forfarmers.eu, www.forfarmersgroup.eu
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements, including those relating
to ForFarmers legal obligations in terms of capital and liquidity positions in
certain specified scenarios. In addition, forward-looking statements, without
limitation, may include such phrases as "intends to", "expects ", "takes into
account", "is aimed at", ''plans to", "estimated" and words with 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,
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discussed in the last published annual report. The forward-looking statements in
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made to the forward-looking statements contained in this document, regardless of
whether these pertain to new information, future events or otherwise, unless
ForFarmers is legally obliged to do so.
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