ForFarmers strengthens position in poultry sector by acquiring De Hoop Mengvoeders
October 19 2020 - 12:55AM
ForFarmers strengthens position in poultry sector by acquiring De
Hoop Mengvoeders
Lochem, 19 October
2020
ForFarmers strengthens position in poultry sector by
acquiring De Hoop MengvoedersCombination of ForFarmers and
De Hoop Mengvoeders creates leading position in the broiler market
in the Netherlands, Belgium and West-Germany ForFarmers has
agreed with De Hoop Mengvoeders (de Hoop) to join forces. Both
companies consider one powerful, international organisation,
focusing on feed quality and advice for poultry farmers, to be of
great added value to the poultry sector. Consumers are increasingly
interested in the provenance of food. In addition the demand for
high quality food, which has been manufactured in a sustainable
manner is growing. Accordingly, this has led to more strategic
partnerships in the broiler food chain. The acquisition of De Hoop
by ForFarmers should be seen in this context. In 2019 De
Hoop sold 322,000 tonnes of poultry feed, primarily to broiler
farmers and generated €110 million of revenues. Approximately 80%
of the produced volume is sold in the Netherlands, with the
remaining 20% being sold from the Netherlands in Belgium and
West-Germany. The company has 52 employees and production takes
place in the modern mill in Zelhem (Gelderland, the
Netherlands).
Quality of feed and advice are key Pieter
Wolleswinkel, Managing Director of ForFarmers Netherlands, says:
‘We are very pleased that we are joining forces with De Hoop, where
quality of feed and advice are also prime aspects of their business
philosophy. This combination therefore creates a strong proposition
for all stakeholders and fully fits into our recently announced
Build to Grow 2025 strategy.’ Gert-Jan Buunk, managing director and
owner of De Hoop, states: ‘The decision to become part of
ForFarmers is future oriented and was primarily taken with the
interest of employees and customers at heart. In our longstanding
history we have always wanted to attract customers by offering them
the best feed and the best advice. In ForFarmers we have found the
company with a same philosophy and customer approach.’
Joining forces under the name ForFarmers-De
HoopForFarmers will buy De Hoop’s shares for the compound
feed business and its related transport activities, and the mill
with adjacent real estate. Completion of the transaction, which is
pending approval of the Dutch and German competition authorities,
is expected to take place in the first quarter of 2021. Financial
details about the transaction will not be disclosed at this time.
Gert-Jan Buunk will manage the new combination, which will be
branded ForFarmers-De Hoop, together with Michiel Schreurs,
Director Poultry ForFarmers Netherlands. 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 61E:
caroline.vogelzang@forfarmers.euAbout ForFarmers
N.V.ForFarmers N.V. is an international organisation that
offers complete and innovative feed solutions for livestock
farming. With its “For the Future of Farming”
mission, ForFarmers is committed to the continuity of farming and
further sustainalising the agricultural sector.
ForFarmers is the market leader in Europe with annual sales of
10.1 million tonnes of animal feed. The company is operating in the
Netherlands, Germany, Belgium, Poland and the United Kingdom.
ForFarmers has approximately 2,600 employees. In 2019, the turnover
amounted to approximately € 2.5 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
About De Hoop MengvoedersDe Hoop is an
innovative family business, founded in 1906. At present, the
company is managed by the fourth generation Buunk and its
operations reach beyond the Dutch borders. De Hoop produces over
300,000 tonnes feed in the modern feed mill in Zelhem, in
which custom made feed can be produced. As of 2006 De Hoop is fully
focused on the poultry sector.
FORWARD-LOOKING STATEMENTSThis 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, which may mean that there could
be material differences between actual results and performance and
expected future results or performances that are implicitly or
explicitly included in the forward-looking statements. Factors that
may result in variations on the current expectations or may
contribute to the same include but are not limited to: developments
in legislation, technology, jurisprudence and regulations, share
price fluctuations, legal procedures, 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 last published annual report. The
forward-looking statements in this press release are only
statements as of the date of this document and ForFarmers accepts
no obligation or responsibility with respect to any changes 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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