The German concern BayWa AG is taking over the shares in trading house Cefetra as of 1 January 2013. The purchase agreement with the shareholders of Cefetra was signed on 27 September 2012.
The purchase price amounts to €125 million. However, the relevant European competition procedures need to be completed in addition to consultation with the various works councils.
Cefetra operates as a supply chain manager for the trade in commodities. Cefetra pools the demand for agricultural commodities from customers in the feed, food and fuel industries in Northern and Central Europe. From this combined volume, Cefetra builds supply chains with its suppliers.
The shareholders of Cefetra are ForFarmers Group (57.7%), Agrifirm Group (32.3%) and Agruniek Rijnvallei Holding. (10%).
Based on the positive experiences in the past, no changes are anticipated in the operational co-operation between Cefetra and its current shareholders, which are also customers.
In the last few years, Cefetra has developed into a significant player on the European market as supply chain manager mainly in the feed and food industries. Cefetra has the ambition to continue growing.
The current shareholders and Cefetra have discussed a range of options to reach their objectives. A study was carried out into options to strengthen the activities of Cefetra.
The current shareholders of Cefetra are focused on animal feed and they prioritise their resources for their own animal feed activities.
Cefetra’s pursuit of further growth is therefore more attainable with a strategic partner prepared to continue investing in the activities of Cefetra.
The sale of Cefetra to BayWa ensures that the independent position of Cefetra is continued. Cefetra sells approximately 15% of its sales to the current shareholders. The current shareholders are willing to continue the commercial relationship with Cefetra in the future.
For BayWa, the acquisition of Cefetra has a strategic background in relation to the strengthening of its agricultural activities and the corresponding risk management.
Cefetra allows BayWa to get access to existing and future commodity markets in all parts of the world. Through the origination and distribution network of Cefetra markets can be better reached and price risks can be better managed. Besides that the parties strengthen each other's logistics network back and forth.
The transfer of shares will not have any consequences for the employees of Cefetra.