Romanian group Holde Agri Invest completes acquisition of 2,400-hectare Videle farm
Holde Agri Invest, a Romanian company that operates agricultural land, said on August 24 that it completed the acquisition of Videle farm in Teleorman county for RON 14.3 million. Following this transaction, Videle farm becomes the third ‘nucleus’ of Holde Agri Invest, alongside Rosiori and Frumusani farms.
Videle Farm has 2,400 hectares of leased land and was previously managed by Agrocom Exim Prod SRL. Its acquisition and integration into the Holde group took about two years. In 2019, the company started to farm 850 ha of the land, increasing the area to 1,600 ha in 2020 and 2,400 ha in the summer of 2021.
This year, conventional crops such as wheat, rapeseed, corn and sunflower were farmed on the Videle land, the group said.
The takeover transaction of Agrocom Exim Prod SRL was financed in proportion 62% debt – 38% equity. Currently, 88% of the total surface farmed by Agrocom Exim Prod SRL is under lease agreements longer than eight years.
In the coming period, Holde Agri Invest will begin the process of modernising the Videle farm. The key investments will be carried out in the machinery and the 10,000-ton silo. The management expects to reach the peak performance on the farm in 3 years, estimated 2024.
“In the long run, our goal remains the same, to reach an exploited area of at least 25,000 hectares. As in the case of Videle farm, we aim to achieve this goal by financing our next acquisitions with the capital attracted from the investors of the Bucharest Stock Exchange,” said Liviu Zagan, general manager of Holde Agri Invest.
(Photo source: the company)