Lynch Group Enters Agreement with Hasfarm for $280 Million Acquisition

Lynch Group Holdings Limited has entered into a Scheme Implementation Agreement with Hasfarm Holdings Limited and Darwin Aus Bidco Pty Ltd under which Hasfarm Bidco will acquire all shares in Lynch through a scheme of arrangement.

Under the terms of the agreement, Lynch shareholders will receive $2.245 per share in cash, less any permitted dividend paid prior to completion. The company has confirmed a fully franked final dividend of $0.09 per share to be paid on 18 September 2025 to shareholders on the record date of 3 September 2025. Shareholders who acquire Lynch shares after that date will receive $2.155 per share if the scheme proceeds.

The offer represents a 34.3 percent premium to the six month volume weighted average price of Lynch shares and implies an equity value of $280 million and an enterprise value of $304 million.

The Board of Lynch has unanimously recommended that shareholders vote in favour of the scheme in the absence of a superior proposal and subject to the Independent Expert concluding that the scheme is in the best interests of shareholders. Major shareholders including Next Capital, Izzac Pty Ltd and Bridge International Holding, who together hold approximately 38.5 percent of Lynch shares, have also indicated their intention to support the proposal.

Peter Clare, Non Executive Director of Lynch, said the all cash offer provides certainty of value for shareholders while recognising the long term potential of the company under Hasfarm’s ownership. Hasfarm Chief Executive Officer Aad Gordijn said the combination of Hasfarm and Lynch would strengthen supply chains and expand opportunities across the Asia Pacific region, particularly in key markets such as China, Japan and Australia.

The scheme remains subject to customary conditions including shareholder approval, regulatory clearances, and court approval. A Scheme Booklet including an Independent Expert’s Report from KPMG will be sent to shareholders in the coming months.

The shareholder meeting to vote on the proposal is expected in November 2025, with implementation targeted for December 2025.