Agroland Agribusiness, a listed agribusiness company that is part of the Romanian group Agroland, is negotiating the takeover of a farm and grain silo.

The investment is estimated at EUR 2 mln, the company’s general manager Florin Radu told Ziarul Financiar.

“The farm is not very big, but we are more interested in the storage capacity,” he explained, adding that the company still needs to reach a final agreement with the seller.

Agroland Agribusiness has also invested EUR 500,000 in a warehouse in Craiova, where it stores the inputs it sells to farmers.

The company aims to reach a turnover of RON 47.9 mln (EUR 9.67 mln) this year, up 51% compared to last year, and a net profit of RON 3.4 mln (EUR 0.68 mln).

Agroland Agribusiness (AAB) started trading on the Bucharest Stock Exchange’s AeRO market in June 2021. Its shares are currently trading close to the debut price, and the market capitalization is RON 36.7 mln (EUR 7.4 mln).

(Photo courtesy of the company)

andrei@romania-insider.com