Deloitte Legal advises team agrar on the establishment of a joint venture with ForFarmers to bundle its animal feed activities in Germany

A cross-location and cross-functional Deloitte team led by Hamburg partner Dr Volker Schulenburg (Corporate/M&A) has advised team agrar, a company of the Danish DLG Group, on the merger of its animal feed business with the German animal feed business of ForFarmers, which is listed in the Netherlands. The aim of the joint venture partners is to consolidate and strengthen their respective feed activities in Germany. The merger leads to the formation of a 50:50 joint venture with the name ‘ForFarmers team agrar’.

Deloitte Legal, in close collaboration with Deloitte Tax and Financial Advisory, provided advice throughout the project, including structuring aspects, preparation of fact books, preparation of the necessary carve-out and negotiation of the joint venture agreements. A particular challenge was posed in relation to the mapping of the 50:50 joint venture structure with joint legal control, while at the same time allowing for full consolidation by ForFarmers. The separation of the fully integrated feed business from the existing team agrar structure, which is the subject of a carve-out, was another element requiring intensive advice.

The joint venture comprises the main feed businesses of ForFarmers and team agrar in Germany. This includes eight feed production sites, three terminals and logistics, including the vehicle fleet, as well as the respective employees. ForFarmers will transfer approximately 250 employees to the joint venture and team agrar approximately 130 employees. As a result of the merger, the joint venture will have a larger network of locations and an expanded exchange of experience and knowledge in the areas of procurement, optimisation and innovation.

ForFarmers and team agrar have already worked together successfully in their joint venture HaBeMa, which is active in the trading, storage and handling of raw materials and the production of compound feed. With the creation of another joint venture, the two companies are expanding their existing cooperation and positioning themselves together in an ever consolidating feed market.

Advisors to team agrar:

Deloitte Legal: Dr. Volker Schulenburg (Lead, Partner, Corporate/M&A, Hamburg), Eike Fietz (Partner, Corporate/M&A, Munich), Torsten Cülter (Partner, Corporate/M&A, Hamburg), Dr. Christian Beuck (Counsel, Corporate/M&A, Hamburg), Heike Humpert (Counsel, Corporate/M&A, Hamburg), Pedro Vera Martinez (Senior Associate, Corporate/M&A, Hamburg), Alexander Hartmann (Associate, Corporate/M&A, Hamburg), Darwin Pfeiffer (Associate, Corporate/M&A, Hamburg), Andreas Leclaire (Partner, Commercial, Düsseldorf), Constanze Raßfeld (Associate, Commercial, Düsseldorf), Katrin Kriebel (Associate, Commercial, Düsseldorf), Felix Skala (Partner, Antitrust, Hamburg), Dr. Katja Schwenzfeier (Partner, Real Estate, Berlin), Maria Tarassidis (Senior Associate, Real Estate, Berlin), Karina Fricke (Associate, Real Estate, Berlin), Dr. Lars Hinrichs (Partner, Employment Law, Hamburg), Elisa Ultsch (Senior Associate, Employment Law, Hamburg)
Deloitte Tax
Deloitte Financial Advisory
Inhouse Legal: Mike Redmann, Dr. André Book, Anja Thiesen
Inhouse Project Lead: Markus Green (M+A)

About team agrar
The German trading company team agrar offers a range of services, including the production of compound feed, grain collection, grain trading, the supply of seeds, fertilisers and pesticides, and products for agricultural businesses. team agrar is based in Flensburg, Germany. The company is based in Flensburg, Germany. team agrar is part of the DLG Group, one of Denmark's largest companies with extensive activities in agriculture, construction and energy. The DLG Group's strategic goal is to contribute to a more sustainable future and to be the preferred partner for agriculture.

About ForFarmers
The Dutch company ForFarmers has 8 locations in Germany and offers a wide range of feed solutions for livestock farming, especially in Germany. With its mission 'For the Future of Farming', ForFarmers is also committed to sustainable agriculture.