Danish Agro acquires Hedegaard shares from Vestjyllands Andel
25/02/2020
Danish Agro buys 22.3% of shares in the agribusiness Hedegaard A/S from Vestjyllands Andel.
Danish Agro and Vestjyllands Andel have just signed an agreement that entails Danish Agro buying 22.3% of shares in the agribusiness Hedegaard A/S from Vestjyllands Andel. This means that Danish Agro will now have full ownership of Hedegaard.
Henning Haahr, Group Managing Director of Danish Agro, welcomes the agreement:
“The cooperation between Danish Agro and Vestjyllands Andel with regard to Hedegaard has been positive and constructive. We were a total of 9 shareholders behind the acquisition of Hedegaard in 2008. Since then the ownership structure has been gradually simplified. Since 2015, Danish Agro and Vestjyllands Andel have been the only shareholders in Hedegaard. The agreement with Vestjyllands Andel is therefore a natural extension of the post-2008 process. We will now look more closely at the opportunities for the synergies the new ownership structure will allow,” he says.
Henning Haahr also points out that he regards the agreement as an expression of the close, trusting cooperation between Danish Agro and Vestjyllands Andel.
“The agreement only helps to cement the strong cooperation between Danish Agro and Vestjyllands Andel in a number of companies, primarily abroad, and related to joint procurement. We aim for cooperation that gives the most value to our owners, and this agreement is an expression of that,” he notes.
Steen Bitsch, Managing Director of Vestjyllands Andel, also sees great promise in the agreement.
“Vestjyllands Andel has defined a number of strategic focus areas, such as in the area of sustainability. For the benefit of this strategy we decided that concluding this agreement with Danish Agro was the right decision for Vestjyllands Andel. In addition to the sale of the shares, the agreement also gives us four branches that will strengthen Vestjyllands Andel’s core business. I am very pleased with that,” says Steen Bitsch.
It is the branches in Fjelstervang, Gesten, Bedsted Thy and Brande which will become part of Vestjyllands Andel as of 1 July 2020.