ForFarmers strengthens position in Polish market through value chain integration
Lochem, 12 February 2026
ForFarmers strengthens position in Polish market through value chain integration
- ForFarmers strengthens position in the growing poultry market in Poland in a joint venture with KPS Food Group (KPS), a leading, innovative player in poultry production, slaughtering and food processing.
- Both ForFarmers’ current joint venture in Poland (Tasomix) and the activities of KPS will be merged into a new joint venture ForFarmers Polska.
- ForFarmers will have a controlling (50.5%) stake and will fully consolidate the joint venture.
- The Enterprise Value of ForFarmers Polska will be PLN 2,192 million (EUR 520 million).
ForFarmers and KPS 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' feed activities. The transaction is subject to approval by the Polish competition authority and the shareholders of ForFarmers.
Value chain integration
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 both the Tasomix and KPS brand names will continue to exist. ForFarmers will fully consolidate the joint venture.
Pieter Wolleswinkel, CEO ForFarmers: “In the markets in which we operate, value chain integration is more and more important for a future-proof poultry sector. 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 organisation, 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.”
Jarosław Krzyżanowski and Ireneusz Sobczak, co-shareholders: “KPS and ForFarmers have been working together for a long time. Our way of working and vision for the Polish poultry market are a perfect match. KPS stands for innovation: in technology, production and product development, but also for expansion into domestic and foreign markets. With the knowledge and expertise of Tasomix and ForFarmers, we can respond even better to the wishes of our customers.”
KPS and Tasomix
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 PLN 1,065 million (EUR 252 million) in 2025 and an annual EBITDA of around PLN 195 million (EUR 46 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, both 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 PLN 2,192 million (EUR 520 million), based on an EV of PLN 1,500 million (EUR 356 million) for KPS and PLN 692 million (EUR 164 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 following the shareholders meeting.
This press release contains information that qualifies as inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
Note to the editor:
Media: Ilse Niehof-Duivelshof, T: +31 (0)573 28 88 00
Investors: Floor van Maaren, T +31 (0)573 28 88 00
Company profile
ForFarmers N.V. (ForFarmers’) is a company offering complete feed solutions for (organic) livestock farming. With its mission statement ‘For the Future of Farming,’ ForFarmers is committed to future-proof farming and making the agricultural sector even more sustainable. With sales of around 10 million tonnes of animal feed, ForFarmers is a leading player in Europe. The company has production operations in the Netherlands (head office), Germany, Poland and the UK and exports to various countries within and outside Europe. ForFarmers has around 2,900 employees. ForFarmers N.V. is listed on Euronext Amsterdam.
ForFarmers N.V., PO-Box 91, 7240 AB Lochem
T: +31 (0)573 28 88 00 - info@forfarmers.eu - www.forfarmersgroup.eu/en
FORWARD-LOOKING STATEMENTS
This document contains forward-looking statements that include ForFarmers' regulatory capital and liquidity positions under certain specified scenarios. In addition, forward-looking statements may include, without limitation, statements containing words such as ''intends'', ''expects'', ''takes into account'', ''aims at'', ''has the plan'', ''estimates'' and words of similar purport. These statements concern or may affect future matters, such as ForFarmers' future financial results, business plans and current strategies. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results and performance to differ materially from the expected future results or performance implicitly or explicitly contained in forward-looking statements. Factors that may cause, or contribute to, differences in current expectations include, but are not limited to: developments in legislation, technology, taxation, case law and regulations, fluctuations in stock prices, legal proceedings, investigations by regulators, competitive conditions, and general economic conditions. These and other factors, risks and uncertainties that may affect any forward-looking statement or the actual results of ForFarmers are discussed in the latest published annual report. The forward-looking statements contained in this document relate solely to statements as of the date of this document, and ForFarmers assumes no obligation or responsibility to update the forward-looking statements contained in this announcement, whether in connection with new information, future events or otherwise, unless ForFarmers is required by law to do so.
