ForFarmers Acquisition of BOCM PAULS Approved
UK - The European Competition Authority and the Jersey Competition Regulatory Authority have approved the acquisition, which was announced on 29 March 2012; of UK feed company BOCM PAULS by ForFarmers Group.
5 July 2012
1 minute read
ForFarmers
Group Works Council had already approved the deal. The transfer of shares
will take place on 11 July, at which point BOCM PAULS will form part of the
ForFarmers Group.
Through the acquisition of the activities of BOCM PAULS, ForFarmers will
become the largest feed company in Europe with:
- 8.8 million of tonnes of feed, of which 6.5 million tonnes is compound feed and 2.3 million tonnes is straights and co-products.
- 2500 employees
- Turnover of € 6.6 billion
Following the acquisition, Iain Gardner, currently BOCM PAULS Chief
Operating Officer, will assume responsibility for the operational management
of BOCM PAULS as Chief Executive.
Following the transfer of shares, Mr
Gardner will also join the ForFarmers Group board. Bill Mayne and James
Powell will remain with the business as Chairman and Finance Director and
continue to contribute their knowledge and expertise as members of the
Agricola board.
BOCM PAULS will continue to operate in the market in the same successful
way as it has done in the past. With its “Total Feed Business” concept, the
company is capable of supplying animal nutrition in whatever form required by
its customers, with the focus on maximising farmer customer profitability.
By exploiting economies of scale, the ForFarmers Group aims to continue its
ambition of maximising its contribution to farm yields and returns. The basis
for this approach is a combination of maximum efficiency and the optimum
use of knowledge and technical expertise.
ForFarmers aims to be one of the best and biggest customer-oriented
suppliers of farm animal feed in Europe. This takeover fits in with its basic
strategy of becoming better by growing.
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