DGAP-News: New acquisition: BayWa expands trading in

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News Desk 2018

Dec 19, 2013 at 6:00 AM

DGAP-News: New acquisition: BayWa expands trading in agricultural equipment in the Netherlands

DGAP-News: BayWa AG / Key word(s): Joint Venture New acquisition: BayWa expands trading in agricultural equipment in the Netherlands 19.12.2013 / 11:43 --------------------------------------------------------------------- New acquisition: BayWa expands trading in agricultural equipment in the Netherlands International trading and services company BayWa AG will acquire a 49% share in Dutch company Agrimec. The transaction is subject to approval by antitrust authorities. Agrifirm, one of the largest agricultural cooperatives in the Netherlands, holds a 51% share in the agricultural equipment company. The purchase price of the 49% share amounts to EUR3.8 million. Agrimec is a newly founded joint venture between Agrifirm and BayWa AG. Agrifirm will transfer its entire agricultural equipment business (called Abemec) in the Netherlands to the new joint venture. The company will sell and service among others the AGCO products Fendt and Massey Ferguson in its sales territories, which focus on the southern Netherlands. 'We want to seize the opportunities offered by the global agricultural boom for the agricultural equipment sector. For the first time, we are expanding beyond our previous equipment sales territory in Germany and Austria by acquiring a stake in a joint venture,' said Klaus Josef Lutz, Chief Executive Officer of BayWa AG, explaining the reasons behind the new acquisition. In 2012, BayWa acquired Dutch company Cefetra B.V. and New Zealand-based Turners & Growers Limited, two internationally active agricultural trading and logistics companies. 'The participation in Agrimec therefore fits perfectly in our internationalisation strategy, which we launched some years ago in the renewable energies business,' Lutz said. 'Because our traditional sales territory does not offer enough potential for expansion, we need to expand our trading activities internationally. We need scope to act in terms of our own sales strategy and in terms of how we approach our customers,' added Roland Schuler, Member of the BayWa AG Board of Management in charge of Agricultural Equipment. BayWa is the world's largest sales partner for AGCO products, meaning the company will be able to leverage its expertise particularly well in the new joint venture, according to Schuler. BayWa AG BayWa AG is a group with worldwide operations in the core competencies of trading, logistics and supplementary services in its core segments of Agriculture, Energy and Building Materials. In 2012 the company had an turnover of around Euro 10.5 billion and en EBIT of over Euro 186 million. BayWa has over 16.000 employees. The head office of the company, which was founded in 1923, is in Munich. The international activities focus on Europe as well as the on the US and New Zealand. The Agricultural Equipment Business unit had a turnover of over Euro 1.2 billion in 2012 and an EBIT of around Euro 18.9 Mio. Royal Agrifirm Group Agrifirm is a link to success for enterprising farmers and market gardeners. The company is a leader in providing solutions that produce improved results for farmers and market gardeners. Agrifirm offers added value through knowledge, innovations and expert employees who are close to their customers. Agrifirm is synonymous with sustainable and innovative concepts that enable customers to anticipate the challenges of today and tomorrow. The Royal Agrifirm Group is a cooperative with approximately 18,000 members; Dutch livestock farmers, arable farmers and market gardeners. Agrifirm has approximately 3,300 employees and its 13 companies are active in Europe and Asia. Annual revenues amount to 2.4 billion euros. www.agrifirm.com Contact: Marion Danneboom, BayWa AG, Head of PR/Corporate Communication, tel. +49 (0)89/92 22-36 80, Fax +49 (0)89/92 22-36 98, e-mail: marion.danneboom@baywa.de End of Corporate News --------------------------------------------------------------------- 19.12.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: BayWa AG ArabellastraÃ?e 4 81925 MÃ¼nchen Germany Phone: 089/ 9222-3691 Fax: 089/ 9222-3698 E-mail: marion.danneboom@baywa.de Internet: www.baywa.de ISIN: DE0005194062, DE0005194005, WKN: 519406, 519400, Indices: SDAX Listed: Regulierter Markt in Frankfurt (Prime Standard), MÃ¼nchen; Freiverkehr in Berlin, DÃ¼sseldorf, Hamburg, Hannover, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 245541 19.12.2013

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