Not the VanDrie Group, but another buyer is making off with the ailing export slaughterhouse Gosschalk from Epe. The soap takes an unexpected turn. White smoke is expected at the end of this week, according to the corridors. The fact that Gosschalk single-handedly blew up the deal with VanDrie is a sign that they have probably found a better alternative. Several names are mentioned.
The otherwise withdrawn Gosschalk slaughterhouse has been in the news for a few weeks now. Only when it became known that the VanDrie Group had acquired a majority stake of 60%. A few weeks later it turned out that the slaughterhouse was experiencing acute liquidity problems due to the bankruptcy of a Danish buyer. As a result, the pigs could no longer be paid. This forced the slaughter of pigs to largely stop. The slaughter of cattle will continue. Probably because this goes through another BV.
The slaughterhouse reportedly has significant payment arrears for dozens of pig traders. Partly because of the sky-high pig prices, a lot of money is involved, traders involved indicate. To millions of euros from individual traders.
VanDrie catches the ball
Yesterday, developments unexpectedly took a new turn, when Gosschalk single-handedly canceled the letter of intent with VanDrie. VanDrie is not prepared to close the financial gaps prior to approval from the competition authorities, according to a joint press statement. Gosschalk added another paragraph, stating that they are in the advanced stages of finding a new buyer. Who that is is not stated. For VanDrie, the soap involves a lot of hassle, ultimately leaving them empty-handed. The fact that Gosschalk single-handedly canceled this deal is only possible if they have a better alternative, according to an involved trader.
Tönnies, Compaxo, or?
Gosschalk himself is not available for verbal comment throughout the soap. A call through the market shows that various parties say they are aware of who the new buyer is, but the confusing thing is that several names are mentioned. It is said to be a German slaughterhouse, although Compaxo's name also sounds less concrete. If it were a German party, the name of the wealthy Tönnies would in any case be a logical one, although speculation remains. The party in question is in any case prepared to provide the necessary financing, Gosschalk himself indicates in the press release. Given that it may involve (tens of) millions of euros, that is a major risk. This makes it illogical that a cooperative slaughter group would do this. White smoke is expected at the end of this week - probably Friday - insiders indicate.
Tomorrow there will be a lawsuit, in which Gosschalk will try to avert bankruptcy through a WHOA procedure. At the moment all the dolls are still in full motion. This morning, several involved traders met at Gosschalk's office to work on a solution. Despite the complex problems, there is also appreciation for the way in which Gosschalk attempts to solve them, according to an involved party.
Losses in 2021
Gosschalk has been in difficult financial waters for some time, as can be seen from the most recent annual report of 2021. In that year, a loss of €5,1 million was incurred, partly because the company was unable to slaughter in the months of July and August. This is due to a suspension by NVWA due to abuses regarding animal welfare in the slaughterhouse. The year before, the profit was €131.000, which is not much considering the turnover. The debt position increased considerably in 2021. This may explain why the company quickly ran into problems after a Danish customer went bankrupt. Regarding the declaration of intent with VanDrie, Gosschalk indicated that the takeover would provide more stability.