MUNICH (dpa-AFX) - BayWa AG (BYWG), a German wholesaler and retailer of industrial and agricultural goods, said it has signed a purchase agreement on 1 February 2016 with the current shareholders of Netherlands-based TFC Holland B.V. to acquire a majority stake in that company.
BayWa has agreed to acquire 68.4 percent of shares in TFC Holland for a purchase price of 28.7 million euros. The transaction is subject to approval by the antitrust authorities, amongst other things.
TFC Holland or TFC is an international trader of exotic fruits and vegetables, in particular avocado, mango, ginger and citrus fruits. The company employs 49 staff.
For BayWa, the majority stake in TFC is an important step within its international growth strategy in the agricultural segment.
Copyright RTT News/dpa-AFX