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Ceravis AG acquires three companies
Ceravis AG, a company jointly owned by Danish Agro and Vestjyllands Andel in Germany, will take over three of the subsidiaries of agribusiness group Agravis in northern Germany on 1 January 2016.
Ceravis AG is also jointly owned by Agravis, and is acquiring FUGEMA Futtermittel- und Getreidehandelsgesellschaft mbH, Raiffeisen Mölln GmbH and Raiffeisen-Zentrum-Idstedt GmbH, representing a total turnover of EUR 300 million.
Danish Agro’s CEO, Christian Junker, is highly satisfied with the deal, in which he believes there is significant potential:
“The activities of Ceravis AG that we have previously acquired from Getreide AG will now be considerably boosted by the acquisition of the three companies from Agravis. We are in the process of strengthening and streamlining our agribusiness interests in Germany. The new acquisitions make a wide range of new synergies possible between Ceravis AG and the three companies acquired. We will gain a stronger market position and increase our competitiveness overall, to the benefit of our customers in Germany and our Danish owners," he says.
FUGEMA Futtermittel- und Getreidehandelsgesellschaft mbH consists of 5 branches in Mecklenburg-Vorpommern, with significant feed production for the conventional and organic markets. In addition, it handles a large volume of crops and is strong on the input market for fertiliser, plant protection and seeds. The company turns over around EUR 145 million, and has 117 employees.
Raiffeisen Mölln GmbH consists of 14 branches in Mecklenburg-Vorpommern and operates within traditional agribusiness, plus energy sales. Raiffeisen Mölln also has an annual turnover of around EUR 145 million and 122 employees.
Raiffeisen-Zentrum-Idstedt GmbH has a branch in Idstedt, in Schleswig-Holstein and specialises within the agribusiness and building material sales. The company turns over around EUR 15 million, and has 23 employees.
“We expect the acquisition of these three companies to mean that Ceravis will reach a turnover of around EUR 1.25 billion and employ approx. 800 people in 2016,” says Junker.
The acquisition contract is awaiting approval by the German competition authorities.
Boost for partnership with Agravis
Ceravis is 75% owned by Danish Agro and Vestjyllands Andel, and 25% by Agravis via their joint venture partnership. According to Junker, the new acquisition is a natural extension of the deep strategic partnership developed over the last six to seven years with the German agribusiness group.
“The sale by Agravis of its own assets to our jointly-owned company in northern Germany means that our joint venture partnership has long-term potential. Danish Agro has a declared strategy of developing its international activities in partnership with Agravis. That will ensure that we can enter new segments and industries with as much know-how and strength as possible, while minimising risk,” says Junker before continuing:
"Our partnership with Agravis has grown stronger and stronger over the years, and is based on great trust and common values. Our joint companies that operate across several industry sectors in Estonia, Latvia, Lithuania, Poland, Germany, the Czech Republic and Hungary generate good profits. In addition to traditional agribusiness on above mentioned markets, we also collaborate on machinery sales and special feeds within premix and vitamins. We have a strong partnership, which I am sure will be developed and expanded over the next few years,” comments Junker, who also indicated that Agravis is expected to increase its investment in Vilomix in the future.
The new acquisitions bring total turnover for the companies jointly owned by Danish Agro, Vestjyllands Andel and Agravis to over EUR 2 billion, with a workforce of around 2,100. A total pre-tax profit for all jointly-owned companies of EUR 35 - 40 million is expected.
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