October 2, 2023
Sale of ForFarmers' Belgian compound feed activities to Arvesta gets official approval
Belgium's competition authority has approved on September 29 ForFarmers' sale of its compound feed activities to Arvesta.
This transaction, which was announced in April, means that Arvesta takes over ForFarmers' compound feed activities, employees, the company's production site in Izegem and a mill in Ingelmunster, West Flanders.
ForFarmers' sale activities concerning co-products, organic feed (by Reudink) and horse feed (by Pavo) are excluded from this transaction.
The transaction will be closed by mid-October when ForFarmers will receive a net amount of €25 million (US$26.4 million) in cash from Arvesta as agreed in a sale / purchase agreement.
The transaction fits in with ForFarmers' strategic focus, with an emphasis on ecological and economic returns. This acquisition is also in line with Arvesta's continued strategy and strengthens its position on the Belgian market for the benefit of customers.