December 28 (SeeNews) - Romanian agricultural company RDF Arad is acquiring 100% interest in local chemical fertiliser producer Adidana, RDF's majority shareholder ROCA Investments said on Tuesday.
Following the acquisition, RDF Arad will double its production activity, becoming a significant agribusiness player on the domestic market, ROCA Investments said in a press release without disclosing the value of the deal.
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ROCA Investments also announced that it has bought an additional stake in RDF Arad, becoming its majority shareholder. ROCA bought a minority stake in the company in November 2019.
"In the next period, we are looking to acquire other complementary players in the agribusiness market. Our goal is to become a one-stop service, a complete solution for other players in the agricultural field," RDF Arad CEO Florin Deznan said.
RDF was established in 1995 and is active in grain trading and agricultural input distribution. The company has invested over 5.7 million euro ($6.4 million) this year in warehousing, technologic solutions and equipment.
Founded in 1993 in Arges county, Adidana started as a small family business owned by Adrian Ionescu, and became one of the main distributors of chemical fertilizers in southeastern Romania.
ROCA, an investment and management platform, was launched in March 2018 and has so far invested in various local companies such as BICO Industries, honey producer and exporter Tremot, shoe manufacturer S-Karp, Frigotehnica, grain trader RDF Arad, railway electrical cable manufacturer Electroplast, chemical company Sinteza, lunch delivery company Yellow Restaurant and port operator Romcargo Maritim.
(1 euro=4.9491 lei)