Daniel Dines, the co-founder and CEO of Romania-born unicorn UiPath, has acquired a 9.57% stake in local agriculture company RodBun through his investment vehicle Ice Vulcan Properties Ltd, RodBun announced in a press release.
The transaction marks the first direct investment by Ice Vulcan Properties and Daniel Dines in the agricultural sector.
An additional stake of 0.23% of RodBun's shares was acquired by Ionut Sas, VP of tax for UiPath’s global operations.
"We are thrilled to announce our first transaction in the Romanian agricultural sector by investing in RodBun. We strongly believe that the future of agriculture is based on research, innovation, digitalisation, and sustainability. By making smart investments in this direction, Romania has the potential to become one of the key players in Europe in the agricultural sector,” said Dines.
“RodBun is a unique company on the local market, representing one of the pioneers of the digitalisation of Romanian agriculture. We know the strategic importance of the Black Sea agricultural region globally, as well as the vital role of farmers in today's and tomorrow's world, especially in the context of global warming. For this reason, we have chosen to invest in a company that has the potential to contribute to more resilient and efficient food systems, including in times of crisis. Our decision to invest in RodBun comes from our desire to actively support the strategic plans of Romanian entrepreneurs to become significant regional players," he added.
Founded in 2001 by Alexandru Iancu and Daniel Muntean, RodBun is a Romanian entrepreneurial company that integrates a diverse range of products and solutions for local farmers.
The partnership between Ice Vulcan Properties and RodBun also takes into consideration the potential listing of RodBun on the Bucharest Stock Exchange.
To meet the corporate governance criteria imposed by the capital market, RodBun will appoint a board of directors where Sas will be proposed as a board member and Dines will be a permanent invitee, the company said.