Bestseller owner aims to acquire agribusiness

Constantinsborg, affiliated with Bestseller owner Anders Holch-Povlsen’s Heartland conglomerate, has made an offer to purchase FirstFarms A/S, an agricultural and food production company operating in Eastern Europe. The offer of 84 kroner per share represents a 17 percent premium over the closing price on Monday, valuing FirstFarms at 936 million kroner. With over 20 percent ownership in FirstFarms already, Constantinsborg will need approval from Romanian and Slovak antitrust authorities if the acquisition proceeds. FirstFarms’ board has yet to decide on the offer, while investors have driven the share price up 14 percent in response, nearing the offered purchase price.