Czech agri-food group Agrofert has taken over a 65% stake in the shares of the Romanian grain and oilseeds trader East Grain.
Founded in 1993 by former Czech prime minister Andrej Babis, Agrofert is one of the main players in the agri-food industry in Central Europe, with approximately 31,000 employees and over 220 subsidiaries.
East Grain’s main activity is the trading of cereals and oilseeds, but the company also provides a number of related services such as logistics, storage, processing and integration services.
East Grains is present in Romania, Hungary and Serbia. The company’s business increased at a combined average rate (CAGR) of 22.5% over the last 5 years, reports Romania Insider.
The transaction was carried out mainly through a capital increase and represents the most important external investment in Romanian agribusiness in the last year, according to an East Grain press release.
