March 10, 2009
Dutch feed co-op Cehave acquires feed firm in Hungary
Press Release
Cehave Landbouwbelang has acquired new production locations in Hungary by taking over compound feed company Pannonmill-Takarm？？ny KFT.
With the acquisition, the compound feed production capacity in Hungary increases to 200,000 tonnes annually.
The new production locations are situated in the western part (Gy？'r) and eastern part (B？'cs) of Hungary. Pannonmill-Takarm？？ny has a production capacity of over 70,000 tonnes of compound feed. The company has an annual turnover of over EUR20 million and sales of 55,000 tonnes compound feed. Together with Kabai T？？p, nearly the entire Hungarian market can be served in an efficient way with a large feed range.
The final takeover will take place once the Hungarian Competition Authorities approves the deal.
Since 2005 Cehave Landbouwbelang has realised takeovers in Belgium, Poland, the Netherlands, Germany, Hungary and China. Total production of the compound feed companies came to more than 2.7 million tonnes in 2008. The sale of moist feed was over 1.4 million tonnes.