ForFarmers UK and 2Agriculture Decide to Abandon Proposed Joint Venture Plans
Following the press release of 9 January 2023, ForFarmers and 2Agriculture announce that they have decided to abandon the proposed joint venture plans. The parties have taken into consideration, among other things, the current impact on their respective businesses, the duration and costs involved and the impact this process has on both employees and farmers.
ForFarmers UK and 2Agriculture announced their intention to merge their businesses into a joint venture on 1 July 2022, to better serve farmers’ needs through a balanced feed portfolio across species. ForFarmers and 2Agriculture continue to believe that the joint venture would have made for a robust business, with improved expertise and presence across species, to successfully meet the changing demands from the entire value chain. This included helping farmers realise the transition towards a more sustainable way of farming with enhanced returns. The proposed joint venture would have invested in driving improvements and optimising services in the most efficient manner, with a focus on further improving production efficiency and feed quality to the benefit of both farmers and end consumers.
This press release contains information that qualifies as inside information within the meaning of Article 7 paragraph 1 of the EU Market Abuse Regulation.