Travers Smith LLP is advising its long-standing client ForFarmers BV on the proposed acquisition of the UK livestock feed and forage business of Countrywide Farmers Plc.

ForFarmers is a European market leader in the animal feed sector, with an annual production of approximately 8.5 million tonnes of feed, a turnover of more than €2.6 billion and 2,200 employees. The company has had a successful relationship with Countrywide, a leading supplier of feed products and services to the rural community in the UK, since 2005.

The business to be acquired has a turnover of €158 million and amounts to approximately 400,000 tonnes. The price paid is based on an enterprise value of €19.3 million on a cash free debt free basis. Upon completion, ForFarmers will acquire the compound feed, blends, co-products, straights and forage businesses from Countrywide. The transaction will also include a long term agreement for the supply of feed and forage products Countrywide sells in its Country Stores.

The acquisition of Countrywide’s feed and forage business will enable ForFarmers to extend its business to an even wider customer base in their chosen markets, and is consistent with the on-going development of the company’s portfolio of products and services.

The Travers Smith team is being led by corporate partner, David Patient, who is supported by associates Gemma Phillips and Sonny Mallett. Other members of the Travers Smith team include competition partner Nigel Seay and associate Stephen Whitfield. Countrywide were advised by Bond Dickinson.