FFARM Forfarmers NV

ForFarmers N.V.: Pavo strengthens market position through acquisition in UK

Lochem, 11 January 2024 

Pavo strengthens market position through acquisition in UK

Pavo, ForFarmers’ organisation in the equine sector worldwide, is expanding its market position through the acquisition of Thunderbrook Equestrian Limited (‘Thunderbrook’), a company operating mainly in the UK and Ireland. ForFarmers UK Holdings Ltd (‘ForFarmers’) acquires 100% of Thunderbrook's shares.

Thunderbrook is a strong brand with a broad product portfolio consisting of conventional and organic feed products, supplements and herbs for horses and ponies. Thunderbrook, with a turnover of GBP 3 million in 2023, has over the years built a wide distribution network in the UK and Ireland consisting of specialist wholesalers and retailers in the UK and Ireland. Thunderbrook also has a strong online position. All this offers prospects for further growth for Thunderbrook in the UK and Ireland.

Thunderbrook's product range fits seamlessly with Pavo's, a range sold in more than 30 countries. Both Pavo and Thunderbrook develop their own product concepts but outsource feed production to ForFarmers and third parties. The acquisition will give Pavo access to Thunderbrook's extensive distribution network.

Attractive strengthening and expansion in horse feed sectorAart Freriks, Director Pavo: "We are very pleased with the acquisition of this unique brand, which fits well within our ambition to further expand Pavo's leading international market position."

Dr. Deborah Carley, Director Thunderbrook: “Having developed Thunderbrook from an original concept, hand mixing feeds in small batches to an estimated GBP 3 million turnover thriving business, I and my team are pleased to pass the reins over to Pavo to develop our natural and organic based horse feeds to the next level”.

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:ForFarmers, Marieke Leussink: Marieke.leussink@forfarmers.eu or +31 6 12 56 74 95.

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.