13 September 2021 - DLG Group is merging its two German companies, Hauptgenossenschaft Nord AG (HaGe) and Team SE. HaGe is an agriculture and animal feed supplier. Team is a supplier to the heavy building material and energy sector.
When the merger is completed, the company, which will be headquartered in Flensburg, will have a revenue of €4.7 billion and will have up to 5,000 staff.
“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,” said Kristian Hundebøll, CEO of DLG Group.
“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 added.
The merger is expected to take effect from January 2022.
