Yahoo Finanza ForFarmers N.V.: ForFarmers UK and 2Agriculture decide to abandon proposed joint venture plans
Lochem, 7 February 2023
ForFarmers UK and 2Agriculture decide to abandon proposed joint venture plans
Following the press release of 9 January 2023, ForFarmers and 2Agriculture announce that they have decided to abandon the proposed joint venture plans. The parties have taken into consideration, among other things, the current impact on their respective businesses, the duration and costs involved and the impact this process has on both employees and farmers.
ForFarmers UK and 2Agriculture announced their intention to merge their businesses into a joint venture on 1 July 2022, to better serve farmers’ needs through a balanced feed portfolio across species. ForFarmers and 2Agriculture continue to believe that the joint venture would have made for a robust business, with improved expertise and presence across species, to successfully meet the changing demands from the entire value chain. This included helping farmers realise the transition towards a more sustainable way of farming with enhanced returns. The proposed joint venture would have invested in driving improvements and optimising services in the most efficient manner, with a focus on further improving production efficiency and feed quality to the benefit of both farmers and end consumers.
This press release contains information that qualifies as inside information within the meaning of Article 7 paragraph 1 of the EU Market Abuse Regulation.
Note to the editor / For further information:
Caroline Vogelzang, Director of Investor Relations
M +31 (0)6 10 94 91 61 • E: caroline.vogelzang@forfarmers.eu
About ForFarmers
ForFarmers N.V. is an international organisation that provides complete innovative feed solutions to the livestock farming industry. With its For the Future of Farming mission ForFarmers underpins its commitment both to the continuity of farming and to further increasing the sustainability of the agricultural sector. ForFarmers is the largest feed producer in Europe with annual sales of around 10 million tonnes of animal feed and is active in the Netherlands, Belgium, Germany, Poland and the United Kingdom. ForFarmers has around 2,500 employees and in 2021 generated revenue of approximately €2.7 billion. ForFarmers N.V. is listed on Euronext Amsterdam.
ForFarmers N.V.
P.O. Box 91
7240 AB Lochem
The Netherlands
T: +31 (0)573 28 88 00
info@forfarmers.eu, www.forfarmersgroup.eu
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements, for example relating to ForFarmers’ legal obligations in terms of capital and liquidity positions in certain specified scenarios. In addition forward-looking statements may, without limitation, contain phrases such as “intends to”, "expects”, “takes into account”, "is aimed at”, ''plans to”, "estimates" and/or words of a similar meaning. These statements pertain to or may affect matters in the future, such as ForFarmers’ future financial results, business plans and current strategies. Forward-looking statements are subject to a number of risks and uncertainties which may lead to material differences between the actual results and performance and the expected future results or performance as implicitly or explicitly contained in the forward-looking statements. Factors that may result in, or contribute to, deviations from current expectations include, but are not limited to developments in legislation, technology, taxation, jurisprudence and regulations, share price fluctuations, legal proceedings, investigations by regulatory bodies, the competitive landscape and general economic conditions. These and other factors, risks and uncertainties that may affect any forward-looking statements or the actual results of ForFarmers are discussed in the most recently published annual report. The forward-looking statements in this press release relate solely to statements as of the date of this document and ForFarmers accepts no obligation or responsibility whatsoever to update the forward-looking statements contained in this release, regardless of whether these pertain to new information, future events or otherwise, unless ForFarmers is legally obliged to do so.
