Cehave Landbouwbelang acquires Hungarian feed company
Hungarian Kabai Táp, a subsidiary of Dutch feed cooperative Cehave Landbouwbelang, has signed a contract to buy peer Pannonmill-Takarmány.
Although Hungaria is not one of the most exciting countries in the animal feed industry, Cehave CEO Kees Sijssens believes in the country’s potential.
“It has enormous sources of raw materials. I am sure this will turn out right. Others perhaps have their doubts, but we go for it,” he said at a young farmers meeting.
The transaction will be closed pending approval by the Hungarian competition office GVH.
Pannonmill is part of the Austrian Leipnik-Lundenburger Invest Beteiligungs AG (LLI) group and decided to sell Pannonmill-Takarmány, its Hungarian animal feed division, in 2008 to clean its profile.
With the acquisition, Cehave Landbouwbelang's feed capacity in Hungary will rise to an annual 200,000 tonnes.
Pannonmill-Takarmány has a production capacity of more than 70,000 tonnes of compound feed, and has its own premix production unit in Környe.
The company employs 70 people and its annual sales reach more than €20 million.
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