ForFarmers has entered into an agreement to acquire Van Triest Veevoeders (Van Triest), which specializes in trading residual flows and co-products.
The acquisition concerns the buying and selling activities, including the associated storage and transshipment facilities and means of transport. ForFarmers, under the name CirQlar, is already active in supplying co-products and residual flows. This acquisition fits into ForFarmers' mission: by using more co-products, it contributes to a sustainable future with affordable and sustainable food by producing dairy, meat and eggs.
Van Triest has been active in trading residual flows and co-products since 1959. The company has purchasing agreements with breweries, the dairy, sugar, bioethanol and potato processing industries and, as regards roughage, with many farmers. It sells the products, including brewer's grains, potato pulp, silage maize and wet beet pulp to some 3,500 farmers mainly in the Netherlands but also in Belgium and Germany. Van Triest has a very good infrastructure in terms of logistics, storage and transshipment and possibilities for mixing residual flows in Hoogeveen and Coevorden. Van Triest trades more than 1 million metric tons of residual flows annually and has 90 employees.
Important step in sustainable market segment
ForFarmers, under the name CirQlar, has been active in the Netherlands in supplying and valorizing co-products and has storage and transshipment sites in Lochem and Heijen. Van Triest's locations and customer base fit seamlessly with ForFarmers' activities and offer good growth opportunities. This transaction strengthens the cooperation with suppliers of residual flows and co-products to make the food chain more sustainable in an efficient way. These products, which are not suitable for human consumption, can often be used to produce nutritious feed for cows, pigs and chickens.
"We are looking forward to working together with our new colleagues at Van Triest,” said Pieter Wolleswinkel, CEO ForFarmers. “Combining our activities means that we can serve our suppliers co-products even better and provide our customers with an even better and broader range of these products. In addition, we are taking a further step in making our food chain more sustainable."
Subject to the approval of the Consumer and Market Authority, ForFarmers will acquire the shares of Van Triest, the company which includes the trading operations and associated transport equipment and storage and transshipment activities. Completion of the transaction is expected in the second half of 2024. The purchase price will be paid entirely in cash; further financial details will not be disclosed. The management of Van Triest will remain actively involved after completion of the transaction.
