Getreide AG based in Rendsburg (Schleswig-Holstein) is selling its agricultural trade business to the Danish company Dava Agravis International Holding A/S. The takeover is to take place on 1 February 2015, after approval by the antitrust authorities. The legal adviser to Getreide AG during the transaction was Luther Rechtsanwaltsgesellschaft mbH.
The sale comprises a group with eleven companies and more than 70 locations. It covers the agricultural trade business, including all mixed feed and seeds activities as well as all collection sites of Getreide AG. Deep-water and other port stations, a seed business as well as fertiliser and plant-protection storages are also part of the acquisition. The parties agreed to keep the purchase price secret.
Getreide AG's agricultural trade business is to be positioned in the market as an independent holding under the roof of Dava Agravis International. About 550 employees will be inherited. With this sale, Getreide AG will divest a sales volume worth about EUR 1 bn.
After selling its agricultural trade segment, Getreide AG will be focusing on industrial activities - including, without limitation, on canola processing, malt production and the grain and oilseed wholesale business-and on international grain trade in the future.
About Getreide AG
Getreide AG is a globally active grain trading company, focusing on agricultural trade and the production of seeds, feeding stuff, canola oil, malt, foodstuff and alcohol. The company is an owner-operated company established in 1882. After selling its agricultural trade business, the company expects to generate sales in the amount of EUR 1.1 bn.
About Dava Agravis International Holding
Dava Agravis International Holding-a company established in 2012 as a joint venture between the Danish companies Danish Agro and Vestjyllands Andel (DAVA) and Agravis-is expected to generate annual sales in the amount of about EUR 500 m in 2014 by bundling agricultural business and agricultural engineering in Eastern Europe. Thanks to this acquisition, the joint venture's sales will increase to about EUR 1.5 bn.
For Getreide AG
Luther Rechtsanwaltsgesellschaft, Hamburg: Dr. Florian Schulz, M.B.A. (Nimbas) (Partner, Lead Partner), Daniel Fehling, LL.M. (Auckland), Guido Wenzel, Dr. Sven Labudda (all Mergers & Acquisitions)
Luther Rechtsanwaltsgesellschaft, Munich: Peter M. Schaffler, Peter Fabry (both Partner, Tax)
Luther Rechtsanwaltsgesellschaft, Düsseldorf/Brussels: Dr. Helmut Janssen, LL.M. (Partner, Antitrust Law)
