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The emerging markets in CE, SE and Eastern Europe include Romania, Poland, Hungary, Turkey, Serbia.
The emerging markets in CE, SE and Eastern Europe include Romania, Poland, Hungary, Turkey, Serbia, Lithuania.
Tuesday, 27 October 2015
M&A in Romanian agri-business sector
Agri-services group Origin Enterprises has acquired Romanian–based providers of
agronomy services Redoxim, for EUR 35 million, and Comfert, for EUR 19.4
acquisitions are being funded from existing bank facilities and are expected to
be earnings enhancing from the 2016 financial year onwards.
headquartered in Timisoara and founded in 1991, is a leading provider of
agronomy services, macro and micro inputs to arable, vegetable and horticulture
growers. The company employs over 190 people and it services approximately
2,000 customers through a distribution network of 55 retail outlets, and a team
of 50 agronomists and product specialists.
the terms of the deal, Origin is to acquire a 100% interest in Redoxim for a
total cash consideration of €35 million.
announced revenue and operating profit before non-recurring items for the year
ended December 31st, 2014 of €53.6 million and €5.6 million, respectively.
headquartered in Bacau and founded in 1998, is a similar business which employs
over 180 people and operates through a distribution network servicing approximately
1,900 farming customers via a team of 32 agronomists and product specialists.
is to acquire 100 per cent of Comfert based upon an enterprise value of €19.4
million. Comfert reported revenue and operating profit before non-recurring
items for the year ended December 31st, 2014 of €100.6 million €3.2 million,
and Comfert represent an excellent strategic fit for Origin providing
complementary expertise, meaningful geographic extension and strong brand
reputation on-farm,” said Mr O’Mahony according to Irish Times.
Sources: the companies, Irish Times, ZF
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