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ForFarmers fulfills wish with acquisition in Poland
ForFarmers will expand on the Polish feed market with the acquisition of Piast. In its own words, this strengthens its position in the broiler sector and expands it by 410.000 tonnes. A long cherished wish comes true.
ForFarmers has been active on the Polish market since 2018. The listed animal feed group has a majority interest of 60% in the company ForFarmers/Tasomix and Piast is incorporated from this entity. The deal still has to pass the competition authorities, but the acquisition is expected to be completed this year. However, this step will probably not be seen as a formality, because last year an announced merger in the British market failed.
With the acquisition of Piast, ForFarmers believes it will achieve a better geographical position on the Polish market. Moreover, the merger of both companies can lead to synergy benefits and thus cost savings. Pawel Swierkula, director of ForFarmers/Tasomix, thinks it is a great step forward for both parties.
Long-cherished wish
For some time ForFarmers has been brooding over expansion plans in Poland, which is seen as an interesting growth market. Former CEO Yoram Knoop labeled Poland as the 'place to be' a few years ago and the current management also left at the end of last year hint to expand in the Eastern European country. That seems to work now.
A salient detail about the takeover is that with the 410.000 tonnes that ForFarmers is attracting almost the same volume as in Belgium was recently divested.
Wouter Job
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