ForFarmers announced to merge its Polish activities with KPS, a leading player in Poland in poultry production, slaughtering and processing. Although we are not a big fan of becoming an integrated player, through this step, ForFarmers secures its position in the growing Polish poultry market, which is gradually moving to an integrated model. Financially it looks a good deal with an estimated earnings contribution of some 8-10% We maintain our Buy rating and will review our TP after the results p ....
