Dewulf announces agreement to acquire Miedema

The Dewulf group has reached a preliminary agreement for the acquisition of Miedema, the one to go to for development and production of modern technology for storage, sorting, transport and planting of potatoes. The company markets strong brands, like Miedema, Structural and Smart Solutions. With this acquisition, the DEWULF range of potato and vegetable machines will be strengthened and the group will grow to become the undisputed global leader in this segment of the agricultural machinery manufacturing market. Working together, Dewulf and Miedema will be able to provide a complete product range for modern-day potato and vegetable growers around the world. The acquisition is expected to be completed in the fourth quarter of 2014.

The current management of Miedema will stay shareholder of the subsidiary in Winsum (28%), thus ensuring continuity for all stakeholders. Miedema's in-house development, production and management will remain in Winsum (Netherlands). Synergy will be sought primarily in the sales of machinery, the marketing and the purchasing departments of the two companies.

Miedema, dealing in the development and production of modern technology for storage and sorting, is located in the Netherlands (Winsum). With 111 employees, Miedema achieves extremely lean production of over 1500 different machines and delivers them worldwide, a path it started down in 1940.

Dewulf is a market leader in the field of self-propelled potato and carrot harvesters. With more than 150 employees and two production sites, in Belgium (Roeselare) and Romania (Brassov), Dewulf produces around 300 harvesters annually and delivers them to 37 countries, including China, Turkey and South Africa. The technological lead held by the 68-year-old family business is reflected in harvesters that are easy to operate and maintain, and which harvest in the most challenging conditions while maintaining quality.

For more information:
Karel Decramer
Dewulf
Tel: +32 51.20.58.71
Email: kdc@dewulf.be
www.dewulfgroup.com

René Boeijenga
Miedema
Tel: +31.517.239.800
Email: reneboeijenga@miedema.com
www.miedema.com