Transaction: ForFarmers and Tasomix
August, 2018 - Warsaw, Poland
Wardyński & Partners has advised ForFarmers in the acquisition of a majority stake in Tasomix companies and creation of a joint venture with the existing shareholders.
On 2 July 2018, ForFarmers, a Dutch company listed on Euronext Amsterdam and one of the world's largest feed producers, acquired a majority stake in companies of Tasomix, a regional leader in the industry employing 250 people and producing over 390,000 tonnes of feed per year. In this manner ForFarmers carried out the provisions of an investment agreement concluded at the beginning of this year and launched close cooperation with the existing shareholders of Tasomix. The value of the transaction was PLN 242 million (about EUR 57.1 million), not including earn-out mechanisms and options to acquire the remaining 40% of the shares.
The purchase of a controlling stake in Tasomix companies is part of ForFarmers' long-term growth strategy, as in recent years Poland has become a leading producer of chickens for both internal demand and export. In its ongoing operations ForFarmers will exploit the broad production capabilities of the Tasomix companies as well as the unique experience of the existing shareholders.
The team at Wardyński & Partners provided comprehensive transactional advice, including extensive due diligence, development of the structure for the acquisition and the joint venture, drafting the investment agreement (including the final share sale agreements, articles of association and option agreements), and conducting proceedings before the Office of Competition and Consumer Protection.
