ForFarmers N.V.: ForFarmers expands in Poland through acquisition of Piast Pasze Sp. z.o.o.

25 Jul 2023 07:00 CEST

Lochem, 25 July 2023

ForFarmers expands in Poland through acquisition of Piast Pasze Sp. z.o.o.

ForFarmers/Tasomix has come to an agreement with Piast Pasze Sp. z.o.o. (‘Piast’) to merge their feed activities. The volume of ForFarmers/Tasomix will consequently increase by 410,000 tonnes. In addition, ForFarmers/Tasomix will strengthen its position in the broiler sector in particular. The transaction is pending the approval of the Polish competition authority. Closing of the transaction is expected to take place in the fourth quarter of 2023.

ForFarmers/Tasomix is a large feed producer with over 30 years of experience on the Polish market. The company has a strong position in the poultry sector and also focuses on growing its position in both the ruminant and pig sector. One of the strategic objectives of ForFarmers/Tasomix is to expand in the attractive Polish agricultural market. The acquisition of Piast is entirely in line with this objective.

Piast offers great cooperation opportunities
The history of Piast dates back to the 1970s with its original location in Lewkowiec (Central Poland) that mainly focused on broiler and turkey farmers in the free market. Over time, Piast expanded its portfolio of products for pigs and cattle and acquired additional production locations in Plonsk, Golancz and Olesno. There are 220 employees involved in management, sales, and production.

Due to the location of the mills of Piast versus those of ForFarmers/Tasomix, it is possible to create dedicated mills to be able to produce more efficiently. The larger geographical footprint provides opportunities to enlarge the customer base. In addition, Piast owns two unique poultry feed technologies, which are cost efficient, can well be applied at ForFarmers/Tasomix and also fit with the sustainability strategy.

Pawel Swierkula, Managing Director of ForFarmers/Tasomix: “This cooperation is a great step forward for both parties. Piast and ForFarmers/Tasomix have similar company cultures and the same attitude towards customers. Working together offers us a larger operating area in centers of growth in our country and will therefore help us to enhance the solid platform to further develop and improve a sustainable future for our business.”

Adam Plewiński, co-owner of Piast, states: “We are very optimistic about the transfer of our feed activities to ForFarmers/Tasomix. This will bring many benefits and new perspectives to our customers who will be able to benefit from the vast experience and knowledge that this international company has. We look forward to working with their management to make this transaction a success.”

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 61
E: caroline.vogelzang@forfarmers.eu

Paweł Świerkula, Managing Director ForFarmers/Tasomix
M + 48 510 22 00 22 • E: pawel.swierkula@tasomix.pl

About ForFarmers N.V.
ForFarmers 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 is committed to the continuity of farming and to further increasing the sustainability of the agricultural sector.
ForFarmers is a prominent player in Europe with annual sales of around 9 million tonnes of animal feed. The company is active in the Netherlands, Belgium, Germany, the United Kingdom and in Poland, where it is branded ForFarmers/Tasomix. ForFarmers has approximately 2,500 employees. In 2022 revenue amounted to approximately €3.3 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

FORWARD-LOOKING STATEMENTS
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