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ForFarmers N.V.: ForFarmers the Netherlands sells arable activities (non-livestock feed related) to CZAV

By GlobeNewswire,  December 08, 2017, 01:01:00 AM EDT


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



This article appears in: News Headlines

Referenced Stocks: FFARM


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