ForFarmers sells Belgian compound feed activities to Arvesta

ForFarmers hasdecided to sell ForFarmers Belgium to the leading agricultural andhorticultural expert Arvesta. The current context, in which the agriculturalsector is being put under pressure to produce even more sustainably, is leadingto more consolidation and cooperation in the chain. Accordingly, ForFarmers andArvesta entered into discussions about ForFarmers Belgium and closercooperation in the chain.

By means of theacquisition of ForFarmers Belgium, Arvesta takes over both the approximately 80employees who produce and sell approximately 420k tons of feed and theproduction site in Izegem in West Flanders. In addition, the mill and site inIngelmunster are also included in the transaction. Arvesta already hasproduction sites for professional feed in Aalter, Merksem, Kortrijk, Andenne andHombourg. Due to the increased production coverage, customers can be suppliedeven better.

The two companieswill work more closely together especially in the broiler sector in Belgium,with ForFarmers continuing to produce feed in the Netherlands, so as tocontinue smooth deliveries to broiler farmers among other things. In addition,Arvesta will transfer its feed activities in the broiler sector in theNetherlands to ForFarmers and the parties will also focus on further improvingthe chain concepts in this collaboration.

The sale ofco-products, the activities in Belgium of the organic feed producer Reudink andthe horse feed producer Pavo are not included in this transaction.

In line withstrategic objectives, with perspective for stakeholders

This transaction isin line with ForFarmers' strategic focus, emphasising ecological ánd economicreturns.

With the expansion ofactivities in its home market, Arvesta can assist customers even better, bothin the continuity of their businesses as well as the transition of the sector.This acquisition is entirely in line with Arvesta’s continued strategy andstrengthens its position in the Belgian market in favour of the customer inorder to further build the agriculture of tomorrow.

ForFarmers shallreceive a net amount of €25 million from Arvesta for the transaction, to bepaid in cash at closing of the transaction. This is expected to take place inthe second half of 2023.

The transaction issubject to approval of the Belgian competition authority.

Source: ForFarmers