SHV, a family-owned Dutch investment firm, has reached a conditional agreement to buy animal feed and nutrition company Nutreco (parent company of Trouw) for â‚¬2.7 billion (US $3.4 billion), expanding into food-related businesses.
Nutreco said it had received guarantees from SHV that it would continue its growth strategy, including acquisitions, and that it would keep its headquarters in the Netherlands. "SHV will be an excellent partner, enabling us to maintain our corporate identity, culture, values and organization," said Knut Nesse, CEO of Nutreco. Under the terms of the agreement, SHV will pay for the acquisition in cash from its own financial resources.
The offer for Nutreco is expected to open in the final quarter of 2014 and Nutreco's executive and supervisory boards recommended shareholders accept it, the companies said in a statement. It is subject to regulatory approval.
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