Hauptgenossenschaft Nord AG, Team SE announce merger

The DLG Group’s two German companies Hauptgenossenschaft Nord AG and Team SE will join forces to form one unified company focused on the agricultural industry and the heavy building material and energy sector.

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The DLG Group’s two German companies Hauptgenossenschaft Nord AG (HaGe) and Team SE (Team) will join forces to form one unified company focused on the agricultural industry and the heavy building material and energy sector.

“Germany is a strategically important market for DLG, and with the merger of HaGe and Team into one company, we will be in a strong position in the very competitive German market. Team and HaGe are each strong players in their respective business areas. Together, they have the power to expand our market-leading position in Germany and explore new business opportunities,” says Kristian Hundebøll, Group CEO of the DLG Group.

Earlier this year, agricultural company HaGe entered a collaboration to build a factory in northern Germany focused on the production of highly processed pea proteins for the food industry. With its participation, HaGe will ensure local production of sustainable raw materials and be a purchaser of by-products for use in the feed industry.

Once the merger is complete, the new company will generate a revenue of EUR 4.7 billion, an operating profit (EBITDA) of more than EUR 130 million and employ up to 5,000 workers.

The new company headquarters in Flensburg, Germany are an hour’s drive from DLG Group’s in Frederica.

“DLG is a company with solid Danish roots, but a large part of our revenue and earnings are generated outside the country's borders and in particular in Germany. With the merger between HaGe and Team, we create an even better starting point for generating further earnings growth in the German market, which today contributes two-thirds of the DLG Group's total earnings,” Hundebøll said.

Kevin Lorenzen (CEO, Team) and Henrik Madsen (CEO, HaGe) will form the Executive Management Board of the new company together with Carsten Gemeinhardt (COO, Team) and Lars Sørensen (CFO, HaGe).

The merger, set to take effect in January 2022, must be approved at an extraordinary general meeting in Team before the end of the year.

DLG Group, according to the WATTPoultry.com Top Companies Database, is one of Europe’s largest agricultural companies and a cooperative with 30,000 Danish farmers as owners. The company has poultry and feed interests, as well as a range of other business interests. Its subsidiary, DanHatch, is one of Europe’s largest suppliers of day-old chicks.

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