ForFarmers has agreed to acquire Dutch poultry feed manufacturer De Hoop Mengvoeders and combine into one international organization focused on feed quality and advice for poultry farmers.
In 2019, De Hoop sold 322,000 metric tons of poultry feed, primarily to broiler farmers, and generated 110 million euros in revenue, ForFarmers said. Approximately 80% of the produced volume is sold in the Netherlands, with the remaining 20% being sold into Belgium and western Germany. The company has 52 employees, and production takes place in a modern mill in Zelhem, Gelderland, in the Netherlands.
ForFarmers Netherlands managing director Pieter Wolleswinkel said, "We are very pleased that 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, added, "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 long-standing 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."
Under the transaction, ForFarmers will buy De Hoop’s shares for the compound feed business and its related transport activities as well as the mill with adjacent real estate. Completion of the transaction, which is pending approval of competition authorities in the Netherlands and Germany, is expected to take place in the first quarter of 2021. Financial details about the transaction were not disclosed.
Buunk will manage the new combination, which will be branded ForFarmers-De Hoop, together with Michiel Schreurs, director poultry, ForFarmers Netherlands.
ForFarmers, based in Lochem, Netherlands, is an internationally operating feed company that offers solutions for conventional and organic livestock farming. With sales of 10.1 million tons of feed annually, ForFarmers is market leader in Europe. The company operates in the Netherlands, Germany, Belgium, Poland and the U.K. ForFarmers has approximately 2,600 employees and had turnover of approximately 2.5 billion euros in 2019.