ForFarmers strengthens position in Belgium by acquiring Voeders Algoet
Common Ground Corporate Finance is happy to share the successful acquisition of the Belgian feed company Voeders Algoet by ForFarmers (Euronext Amsterdam: FFARM). As a result, ForFarmers strengthens its position as feed company in Belgium with the offer of Total Feed solutions.
‘ForFarmers’ from Lochem in the Netherlands is an internationally operating feed group that offers total feed solutions for conventional and organic livestock farming. With sales of approximately 9.6 million tonnes of feed annually, ForFarmers is market leader in Europe. ForFarmers has approximately 2,300 employees and production facilities in the Netherlands, Belgium, Germany and the United Kingdom. In 2017, revenues amounted to over €2.2 billion.
Voeders Algoet is a Belgian feed company that sells around 150,000 tonnes of compound feed to swine and ruminant farmers. In the split financial year (1 July to 30 June) 2016/2017 the company generated sales of around €40 million with an EBITDA of approximately €2 million. Voeders Algoet will be integrated into ForFarmers Belgium.
Common Ground acted as the corporate finance advisor to ForFarmers.
“Common Ground’s knowledge and wide network in the animal feed sector helped a lot in finding the target and in positioning ForFarmers as the right buyer for their business”. This acquisition fits into the consolidation that is needed for a healthy agricultural sector in Belgium in the long-term. This new combination becomes the second largest feed group in Belgium.” said Adrie van der Ven, COO, and responsible for the ForFarmers Belgium/Germany cluster and new regions.