Lochem, 9 January 2023
Remedies offered by ForFarmers UK and 2Agriculture in relation to planned joint venture not accepted by CMA
ForFarmers and 2Agriculture announce that they have offered remedies (also referred to as ‘undertakings in lieu’ of reference (UILs)) to the UK competition and markets authority (CMA). The parties offered remedies in response to the CMA’s announcement on 21 December last that the proposed joint venture would be referred for an in-depth Phase 2 investigation unless the parties offered acceptable remedies to address the CMA’s competition concerns.
The CMA has today announced on the case page that it does not consider the proposed remedies would effectively address its competition concerns with the proposed joint venture.
ForFarmers and 2Agriculture are considering their next steps.
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:
Caroline Vogelzang, Director of Investor Relations
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ForFarmers 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 the largest feed producer in Europe with annual sales of around 10 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 2021 generated revenue of approximately €2.7 billion. ForFarmers N.V. is listed on Euronext Amsterdam.
This 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.