ForFarmers N.V.: ForFarmers completes acquisition of Piast Pasze Sp. z.o.o.
January 04 2024 - 1:30AM
ForFarmers N.V.: ForFarmers completes acquisition of Piast Pasze
Sp. z.o.o.
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 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
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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