To facilitate growth and boost product development Schuitemaker announced in November last year that a private equity firm was buying a 36.25% stake in the company. The aim was for Wadinko to stimulate business and employment in Overijssel, the Noordoostpolder and Southwest Drenthe.
By allowing Schuitemaker to merge with Veenhuis, the company has the potential to consolidate its position in the agricultural machinery industry. Walter Veenhuis comments, “The products from both companies belong together. There is a huge synergy. In the area of purchasing and production, for example. ”That means that the production of the machines is concentrated in one place. At Schuitemaker in Rijssen. That way you can create a flat production. Veenhuis exports have risen sharply in recent months. We are growing very fast. Maybe too fast and that growth will not always remain, you have to prepare yourself for that.”
Veenhuis in recent years has focused on manure spreading machines and at the same time has developed a system that analyzes the manure.
The two brands will continue to exist separately from each other, Walter Veenhuis assures. “They are both strong brands. Eventually, all machines related to feeding will turn red and bear the Schuitemaker name.
Everything related to manure will turn yellow and bears the Veenhuis name. That is the ultimate goal but we want to do it very carefully and keep the current dealers of both brands. Consultations will be held with those dealers in the coming months. After all, there is still a small overlap in the product range. Both Veenhuis and Schuitemaker deliver fertilizers.”
In addition to Wadinko and Gerrit de Graaf, the Schuitemaker and Veenhuis families remain shareholders in the new company. Walter Veenhuis adds, “the majority of the shares in the new holding lie with Wadinko and the current Schuitemaker director Gerrit de Graaf. I also have a share of the shares, just like the Schuitemaker family. Veenhuis will be responsible for the sale of the machines in the new company and De Graaf becomes director.”
The Innovado feeding robot is one of the showpieces of Schuitemaker. This feed line will also continue to be sold under the Schuitemaker name after the merger with Veenhuis.
Schuitemaker builds machines for livestock farmers and contractors, but also for road authorities and employ 140 employees at the Schuitemaker plant in Rijssen.
Veenhuis develops, designs and manufactures systems and products in to enable growers to benefit from organic manure and its nutrients. The company has 40 employees that work at Veenhuis site in Raalte.
The merger between the two companies must be completed by quarter three or four this year.