Spearhead Acquires Agrinatura in Romania
Spearhead International Ltd announces the acquisition of a 70% shareholding in Agrinatura SA in Romania.
The operations are based in Teleorman county around Alexandria, the county town, 90km south west of Bucharest. The company has substantial crop storage facilities, and currently farms approximately 8,000 hectares. It is expected that the land base will be expanded substantially.
The Pena family, from whom the share was purchased, will retain the balance of 30% and Dan Pena will join the Spearhead Team as Managing Director of Agrinatura. Dan will report to Christoph Graf Grote who is responsible for Southern Central Europe in Spearhead.
Tom Green, Spearhead CEO, said "This important acquisition for Spearhead is consistent with our strategy to seek expansion through scale, quality and geographic spread of land with exceptional people. With the Pena family we have ambitious plans to grow the business, and we look forward to a strong new contibution to Spearhead earnings as we execute the plan".
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