ForFarmers N.V.: ForFarmers the Netherlands sells arable activities (non-livestock feed related) to CZAV
December 08 2017 - 1:01AM
Lochem, 8 December 2017
ForFarmers the Netherlands sells arable activities
(non-livestock feed related) to CZAV
ForFarmers the Netherlands has
signed an agreement to sell its arable activities to CZAV. This
concerns non-livestock feed related products (e.g. fertilizers,
crop protection products and seeds) that ForFarmers supplies to
Dutch arable farmers. CZAV will be taking over these activities and
the associated storage facility on 5 February 2018. It involves
annual revenues of €13 million. ForFarmers will receive €5.65
million on the date of the handover on completion of the
agreement.
The sale of these (non-livestock feed related)
arable activities is fully in line with ForFarmers' strategy, that
focuses specifically on the Total Feed approach for livestock
farmers. ForFarmers will continue to sell seeds, fertilizers and
crop protection products to its customers relating to forage
production on farms. These forage related products represent an
important part of the Total Feed approach and are therefore not
included within this sale.
CZAV is an innovative Dutch Cooperative with a
strong position in arable products specifically in the south of the
Netherlands. The company targets the arable farming sector with its
wide range of products. For this reason ForFarmers considers CZAV
as the ideal company to take over it's arable activities and
growing them even further. The activities will be placed in a new
entity, that is still to be set up, called Agriant BV located in
Emmen. As a consequence of the sale, the ten directly affected
ForFarmers Netherlands employees will become employees of Agriant
BV.
"Thanks to CZAV's wide product range and capacity
for innovation, Agriant BV will enable the acquired arable
activities of ForFarmers to grow even further. This is essential
for our arable farming customers and the employees affected by the
sale. In order to continue providing the arable farming customers
with appropriate products and advice, both focus and innovation are
necessary. This can be better delivered in the new structure. This
agreement enables us, ForFarmers the Netherlands, to focus
completely on strengthening the Total Feed approach. This
encompasses high quality products combined with specialist advice
and tools, all to enable our customers to deliver better returns,
healthier livestock and greater efficiency on farm. This is
ForFarmers' core activity" said Jan Potijk, COO and Director
ForFarmers the Netherlands.
"Together with its partner companies, CZAV has a
leading position as supplier of knowledge and products in the most
important sectors of the Dutch agricultural industry. Acquiring the
arable activities from ForFarmers increases our coverage in the
Netherlands and gives us a larger network at the same time. This
fits our strategy of leading in the agricultural sector by
providing innovative knowledge and products", said Antoon van Vugt,
Managing Director at CZAV.
Note for
editorial staff:
For further
information:
Caroline Vogelzang, Director of Investor Relations and
Communications, ForFarmers
T: 0031 573 288 194, M: 0031 6 10 94 91 61, E: caroline.vogelzang@forfarmers.eu
Antoon van Vugt, Managing
Director CZAV
T: 0031 (0)113 62 92 35, M: 0031 (0)649 879 814,
E: av.vugt@czav.nl
ForFarmers company profile
ForFarmers
Netherlands NV ('ForFarmers', Lochem, Netherlands) is a feed
manufacturing company operating internationally and offering
complete feed solutions for livestock farming and organic livestock
farming. ForFarmers works 'For the Future of Farming": for the
continuity of farming activities and for a financially healthy
sector that continues to play an ongoing role in society for many
generations to come. By working closely with its customers
ForFarmers can offer them concrete results: better returns,
healthier livestock and greater levels of efficiency. This is
possible thanks to an individually customised approach and Total
Feed solutions that are combined with a targeted strategy supported
by specialist, expert professionals.
Supplying around 9.3 million tons of animal feed
each year, ForFarmers is the market leader in Europe. ForFarmers
has 2,273 employees working out of production facilities based in
the Netherlands, Belgium, Germany and the United Kingdom. Turnover
in 2016 amounted to €2.1 billion.
ForFarmers NV, PO Box 91, 7240 AB Lochem, the
Netherlands, +31 (0)573 28 88 00, F: +31 (0)573 28 88 99,
info@forfarmers.eu, www.forfarmersgroup.eu/en
CZAV company profile
CZAV U.A. Endeavours to become the major
agricultural sales and purchasing organisation in the southern part
of the Netherlands with its close customer relationships. Annual
turnover is approximately €400 million and it has around 3,000
members. The cornerstones of our strategy are: knowledge, cost
prices and customer-orientation.
Specialist growing increasingly requires specific
knowledge. Integral knowledge of soil, fertilization, crop rotation
and crop growing is essential. Direct access to the best sources of
information and knowledge leads to the best advice and added value
for our customers.
CZAV considers one of its main tasks is to help
its customers make their aspirations come true by providing added
value for their business returns. In order to achieve this CZAV and
its expert people ensure the following:
- the best possible products and services with optimal
price/quality ratios
- providing continuity with respect to its products and
services
- close collaboration with customers and their businesses
- aiming for optimal returns for its customers
- participating in companies that serve CZAV
- financial health
CZAV U. A., P.O. Box 402, NL-4460 AV
Goes
www.czav.nl
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: ForFarmers N.V. via Globenewswire
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