July 28 (SeeNews) - Hungarian businessman Lorinc Meszaros and agricultural and food group Talentis Agro, a member of his Meszaros Group, said on Friday they have signed a deal to acquire, together with MKB Private Equity Fund, Croatia’s largest producer and exporter of apples and nectarines, Rabo.
"Focusing on international expansion, the ever-growing portfolio of Lorinc Meszaros and his company Talentis Agro, shall now gain full ownership of company Rabo d.o.o. jointly with MKB Private Equity Fund,” the Meszaros Group said in a joint statement with Rabo. It did not disclose the value of the deal.
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The deal was signed with Rabo’s CEO and owner, Nikola Velicki.
Talentis Agro is specialized in crop production, animal husbandry, food and fruit processing and wine growing, and has a portfolio of agricultural companies.
Rabo is based in Knezevi Vinogradi (Hercegszolos), located in Croatia’s northeastern Baranja region near the Hungarian border. Rabo has state-of-the-art highly intensive orchards, producing over 8,000 tonnes of apples and nectarines annually, according to the press release.
The company’s orchards are equipped with frost, hail and UV protection systems as well as with highly advanced computer guided irrigation and nutrition feeding systems powered by solar energy, thus ensuring and preserving high yields, production stability, fruit quality and continuous market presence and sales volume, despite climatic extremes that may occur, it added.