ForFarmers N.V.: Pavo strengthens market position through acquisition in UK
January 11 2024 - 12:30AM
ForFarmers N.V.: Pavo strengthens market position through
acquisition in UK
Lochem, 11 January 2024
Pavo strengthens market position through acquisition in
UK
Pavo, ForFarmers’ organisation in the equine sector
worldwide, is expanding its market position through the acquisition
of Thunderbrook Equestrian Limited (‘Thunderbrook’), a company
operating mainly in the UK and Ireland. ForFarmers UK Holdings Ltd
(‘ForFarmers’) acquires 100% of Thunderbrook's shares.
Thunderbrook is a strong brand with a broad product portfolio
consisting of conventional and organic feed products, supplements
and herbs for horses and ponies. Thunderbrook, with a turnover of
GBP 3 million in 2023, has over the years built a wide distribution
network in the UK and Ireland consisting of specialist wholesalers
and retailers in the UK and Ireland. Thunderbrook also has a strong
online position. All this offers prospects for further growth for
Thunderbrook in the UK and Ireland.
Thunderbrook's product range fits seamlessly with Pavo's, a
range sold in more than 30 countries. Both Pavo and Thunderbrook
develop their own product concepts but outsource feed production to
ForFarmers and third parties. The acquisition will give Pavo access
to Thunderbrook's extensive distribution network.
Attractive strengthening and expansion in horse feed
sectorAart Freriks, Director Pavo: "We are very pleased with
the acquisition of this unique brand, which fits well within our
ambition to further expand Pavo's leading international market
position."
Dr. Deborah Carley, Director Thunderbrook: “Having developed
Thunderbrook from an original concept, hand mixing feeds in small
batches to an estimated GBP 3 million turnover thriving business, I
and my team are pleased to pass the reins over to Pavo to develop
our natural and organic based horse feeds to the next level”.
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:ForFarmers, Marieke Leussink:
Marieke.leussink@forfarmers.eu or +31 6 12 56 74 95.
About ForFarmersForFarmers 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 a leading feed producer
in Europe with annual sales of around 9 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
2022 generated revenue of approximately €3.3 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 STATEMENTSThis 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.
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