With the acquisition of Tasomix
Poland becomes fifth ForFarmers country
ForFarmers has acquired a 60% interest in the Polish compound feed company Tasomix. This company is mainly active in the poultry sector, but also produces pig and cattle feed.
With the move to Poland, the listed mixing company is settling in a fifth European country. ForFarmers is already active in the Netherlands, Germany, Belgium and Great Britain. The purchase is initially for an amount of 234 Polish zoty (converted €56 million). A second payment will follow in 2021, depending on performance.
Management stays on
Yoram Knoop, CEO of ForFarmers, is pleased with the acquisition. The knowledge available within Tasomix can be useful within the organization. The incumbent management will remain. In addition, the CEO expects ForFarmers' knowledge to be applicable in Poland. Tasomix will become part of the Germany, Belgium and Poland cluster, led by Adrie van der Ven (COO).
Tasomix sold 2016 tons of compound feed in 395.000 and realized a turnover of more than €100 million. The company has 2 production locations, with a combined capacity of 450.000 tons. A third factory is currently under construction.
Rate shoots up
Investors react positively to the news. The price of ForFarmers on the Damrak shot up on Tuesday morning, February 20, and reached a price of €09 (+30%) around 10,10:5,54 am. This makes the feed company one of the stars.
Wouter Job
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