ForFarmers and KPS Food Group have signed an agreement to form a joint venture in which ForFarmers will have a 50.5% majority share. The current owners of KPS, who are also the co-shareholders in Tasomix, will hold the other 49.5% stake.
This joint venture will incorporate KPS’s poultry farms and slaughtering and food processing activities, as well as all of Tasomix’s feed activities. The transaction is subject to approval by the Polish competition authority and the shareholders of ForFarmers.
This step is in line with ForFarmers’ strategy to strengthen its market position in the growing Polish poultry sector and to further develop value chain integration. Tasomix and KPS have a long‑standing track record of effective collaboration. The intensified cooperation will continue in this joint venture under the name ForFarmers Polska, under which the Tasomix and KPS brand names will continue to exist. ForFarmers will fully consolidate the joint venture.
“In the markets in which we operate, value chain integration is more and more important for a future-proof poultry sector,” said ForFarmers CEO Pieter Wolleswinkel. “I am therefore very optimistic about this strategically important step for ForFarmers. The combination of Tasomix and one of Poland’s most modern poultry processing companies enables us to consolidate our strengths into an integrated organization, capable of responding effectively to market demands. This new joint venture enables us to strengthen our position in the Polish poultry market and benefit from the growth opportunities in Poland.”
KPS is an established name in the fast-growing Polish poultry production and processing market. The growing company is an integrated player in the poultry sector with a turnover of approximately PLN1.065 million (EUR252 million) in 2025 and an annual EBITDA of approximately PLN195 million (EUR46 million). KPS owns 7 poultry farms with a total of approximately 3 million bird places, a modern slaughterhouse in Radom and a production site for consumer products in Pionki. KPS also has service companies for distribution and sales. It employs a total of approximately 2,000 people. The current owners will remain actively involved, operationally and as shareholders.
Through Tasomix, ForFarmers brings in-depth knowledge in the field of sustainable feed production and feed advice. Tasomix is one of the largest producers of animal feed in Poland and supplies feed for poultry, pigs and ruminants. With a team of 525 employees, it offers reliable and efficient feed solutions. Tasomix has been part of the ForFarmers Group since 2018.
The management of the joint venture will consist of representatives from the joint venture partners, namely Pawel Swierkula (CEO), Robert Sobczak (CCO) and Bartlomiej Kaminski (CFO).
Structure of the agreement
The proposed transaction involves merging all activities of KPS and Tasomix into a joint venture called ForFarmers Polska. The enterprise value (EV) of the new joint venture will be PLN2.192 million (EUR520 million), based on an EV of PLN1.500 million (EUR356 million) for KPS and PLN692 million (EUR164 million) for Tasomix.
The Krzyżanowski family and the Sobczak family are the current 100% shareholders in KPS. They also hold 40% in Tasomix, in which ForFarmers currently has a 60% stake. In order to achieve the intended shareholder structure in the new joint venture, in which ForFarmers will have a 50.5% stake and the Krzyżanowski family and the Sobczak family the other 49.5%, ForFarmers will pay a consideration to the current shareholders. This consideration is the net effect of 50.5% of the equity value of KPS minus 9.5% of the equity value of Tasomix. The equity value equals the enterprise value minus the net debt positions in KPS and Tasomix on completion. The consideration will be paid in three annual tranches, funded in part through additional financing. The expected funding stays well within banking covenants.
The transaction is expected to be completed in the third quarter of this year, subject to approval by the Polish competition authority and the shareholders of ForFarmers. Further details will be disclosed in the documentation after the shareholders meeting.
