US investment fund Paine & Partners took over 18,000 hectares of arable land in Romania, by acquiring British farming group Spearhead International Ltd, which leases the plots.

Spearhead entered the local market in 2000, by leasing land plots from people and companies in the Dolj and Teleorman counties, in southern Romania, reports local Economica.net.

The British group also holds a 100% stake in the Teleorman-based grain producer Agrinatura Nanov, which had 90 employees and a turnover of EUR 15 million in 2014.

Spearhead now exploits 18,200 hectares of arable land in Romania, which is the third largest country in its portfolio.

editor@romania-insider.com

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