Spearhead Acquires Rovina
Spearhead International Ltd announces the acquisition of majority shareholdings in three farming companies and one agricultural commodity trading company, all situated in the Kromeriz region in the east of the Czech Republic, and collectively referred to as Rovina.
Rovina farms approximately 9,200 ha of land in the region, producing wheat, oilseed rape, barley and poppy. Maize is grown for silage to feed a 300 cow dairy herd and replacements.
With Spearhead's existing Czech operation, Eurofarms, at Jihlava (6,000 ha) 130km due east, and its Top Farms Glubczyce business in southern Poland (11,000 ha) 100km to the north, and a newly built motorway through the middle of the farm, Rovina is ideally located.
Tom Green, Spearhead CEO, said "Rovina adds considerable scale and quality to our existing operations in the region and the prospect of synergy and economies of scale for the future. Rovina has a good profit record and experienced management team, and we expect to build this further within Eurofarms under the local direction of William England and his team".
For further information:
tel: +44 (0)1638 742 034