Givesco A/S, a family business from Denmark, has acquired a 50% stake in local milling group Sam Mills, reports local Mirsanu.ro.

Romanian investor Ioan Bercean, nicknamed “the milling king”, controls Sam Mills.

Prior to the acquisition, Bercean brought together 10 companies in a holding structure, setting up the Sam Mills Business Investment Holding group. The Danish group took over a stake estimated at about RON 200 million (EUR 43.4 million).

Sam Mills is as a leader in the corn milling market in Romania and one of the largest maize producers in Europe. The business was founded in 1994 and includes ten firms. The group recorded a turnover of about EUR 140 million last year and had almost 500 employees.

Givesco started as a family business, but has recently started expanding its operations at international level. It is active in the food, chocolate and sweets sector.

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(photo source: Sammills.eu)