Royal Agrifirm Group and BayWa AG signed an agreement for the sale to BayWa of Agrifirm's 51-percent stake in Agrimec. The sale means that BayWa is becoming the sole owner of Agrimec and its subsidiary Abemec. BayWa has already owned 49 percent of the shares since 2014. The Antitrust authorities have meanwhile approved the sale.
The sale of Agrimec/Abemec is in line with Agrifirm's strategy, which is focused on strengthening and expanding its core business in the animal feed, agriculture and horticulture sectors. The Agrimec/Abemec divestment is part of the implementation of this strategy.
Ton Loman, CEO of Agrifirm: “The acquisition by BayWa means that Agrimec/Abemec can now further expand its position in agricultural mechanization and, by pooling its knowledge and synergies, further strengthen its products and services to clients.”
The acquisition of Agrimec/Abemec fits in the internationalization strategy of BayWa for its agricultural equipment business. For this business area the Netherlands have been the initial new market in 2014 BayWa approached along their core regions in Germany and Austria. Since then, the Munich based international trading and services company also started new Joint Ventures for agricultural equipment in Zambia and Canada.