BayWa sells Cefetra to First Dutch

BayWa AG: BayWa sells Cefetra to First Dutch

Munich,10 June 2025 – BayWa Agrar Beteiligungs GmbH, a subsidiary of BayWa AG, has today agreed with PGFO B.V., a First Dutch company controlled by the Dutch entrepreneur Peter Goedvolk, on the sale of all shares in the agricultural trading company Cefetra Group B.V. (“Cefetra”). The closing of the transaction is expected in the third quarter of 2025.

The transaction is still subject to completion of the consultation process with the works council of Cefetra, merger control clearance by the European Commission and foreign direct investment clearance in Italy as well as approval by the financing banks of BayWa Group. In addition, the buyer has to secure financing for the purchase price and the refinancing of Cefetra at closing of the transaction. In the event that the purchase price financing or refinancing should fail, BayWa Agrar Beteiligungs GmbH may terminate the transaction and demand from buyer a break-up fee of €12.5 million.

The agreed purchase price (equity value) for the shares in Cefetra amounts to approximately €125 million. Of this amount, around €100 million is to be paid upon closing and the remaining EUR 25 million at the end of 2025. As a result of the repayment of shareholder loans at closing of the transaction as part of the refinancing of Cefetra by the buyer, BayWa AG will also receive a further approximately €61 million, resulting in a total of cash inflow of approximately EUR 186 million. Furthermore, the BayWa Group's bank liabilities will be reduced by approximately € 500 million due to the deconsolidation of Cefetra.

Upon closing of the transaction, the cash inflows and debt relief effects envisaged in BayWa AG's reorganisation concept in connection with the sale can be realised.