Austrian group Agrana Zucker will take over the two sugar plants owned by Romanian sugar producer Lemarco, located in Urziceni and Liesti, Adevarul daily informed.
Agrana is already the largest sugar producer on the Romanian market with some EUR 275mn revenues in 2012, while Lemarco is the fourth largest player with EUR 31mn revenues. The deal needs, however, the antitrust body’s endorsement.
Agrana plans to increase its sugar beet production, but also to expand its sugar refining activities in order to consolidate its presence on the Southeast European market, Agrana CEO Johann Marihart said in a press release.
Lemarco owners are US resident George Gellert [50%] and Romanian residents Penciulescu Cristian [10%], Neculai Maratas [20%] and Mircea Radina [20%]. The company’s revenues narrowed three times y/y to RON 138.5mn [EUR 31mn] in 2012. The net result turned from a RON 20mn profit in 2011 to a RON 59.1mn [EUR 13mn] loss in 2012.
Agrana already operates two sugar plants in Romania, located at Buzau and Roman. The company produces the Margaritar and Coronita brands.
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