ForFarmers has agreed a deal to acquire a Dutch poultry feed company, De Hoop Mengvoeders.
In 2019 De Hoop sold 322,000 tonnes of poultry feed, primarily to broiler farmers and generated €110 million in revenue. Approximately 80% of the produced volume is sold in the Netherlands, with the remaining 20% sold from the Netherlands in Belgium and Germany. The company has 52 employees and produces its feed in Zelhem.
Pieter Wolleswinkel, managing director of ForFarmers in the Netherlands, said: “We are very pleased we are joining forces with De Hoop, where quality of feed and advice are also prime aspects of their business philosophy. This combination therefore creates a strong proposition for all stakeholders and fully fits into our recently announced Build to Grow 2025 strategy.”
Gert-Jan Buunk, managing director and owner of De Hoop, said: “The decision to become part of ForFarmers is future oriented and was primarily taken with the interest of employees and customers at heart. In our longstanding history we have always wanted to attract customers by offering them the best feed and the best advice. In ForFarmers we have found the company with a same philosophy and customer approach.”
ForFarmers will buy De Hoop’s shares for the compound feed business and its related transport activities, and the mill with adjacent real estate. Completion of the transaction, which is pending approval of the Dutch and German competition authorities, is expected to take place in the first quarter of 2021. The companies did not disclose any financial details.
Gert-Jan Buunk will manage the new combination, which will be branded ForFarmers-De Hoop, together with Michiel Schreurs, director of poultry, ForFarmers Netherlands.