BayWa becomes supplier of exotic fruits, will take over TFC Holland
The takeover is subject to approval by the antitrust authorities. The Munich-based trading and services company will receive 68.4 percent of the company shares for a purchase price of EUR 28.7 million.
The takeover is an important step for BayWa in its international growth strategy in the agricultural segment. TFC has long-standing international trade relations in all procurement markets for exotic fruits - mainly for avocado, mango, ginger and citrus fruits, as well as with the European food retail industry.
By expanding its portfolio in the growth market for exotic speciality fruits, in particular in the "ready-to-eat" sector, BayWa AG is strengthening its position as a leading international supplier of exotic and pome fruit.
"The European market for exotic fruits has been on the rise for several years.
BayWa AG has acquired full ownership of Evergrain KG. The company, which is based in Hamburg, will now operate under the name of "Evergrain – a BayWa Company".
BayWa already decided last summer to acquire a majority stake in Evergrain KG. After the anti-trust authorities have approved the transaction, the Munich-based trade and services company is taking full ownership of Evergrain, a company that is specialised in international trading with malting barley.
With the take-over, BayWa is expanding its national and international specialities business and will take a leading role in the malting barley trade. ■