FirstFarms agrees on acquisition in Hungary

History

Copenhagen-listed farm operator FirstFarms has agreed to acquire an 80% share in Dan-Farm Hungary, which has a 2,200-strong sow herd, produces some 70,000 piglets and 5,000 slaughter pigs a year, agricultural business news site agrimoney.com reported Wednesday.

“With this agreement, FirstFarms gets pig production into the portfolio […] to secure a larger risk spread and better earnings,” agrimoney.com cited the group as saying. The company currently operates in the grain and milk sectors.

Expanding into Hungary, from its existing operations in neighboring Romania and Slovakia, is expected to raise the potential for releasing “significant synergies,” agrimoney.com quoted the company as saying, as the country is “within driving distance.”

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