Horia Cardos, founder and CEO of Agroland Business System, said the amount attracted from investors would help the company to continue the development of Agroland’s all business lines.
Cardos also said the retail activity is the company’s most important business line, adding the Agroland MEGA store chain is the main engine for revenue and profit growth in the coming years. Cardos pointed out that the plan is to double the number of such stores to reach 30 units which are expected to generate sales of at least RON100 million and contribute at least RON10 million to its EBIDTA.
The company also aims to expand the Avicola Mihailesti platform and upgrade the fodder plant in Caransebes.
Within the first stage of the share capital increase operation, SevenX Ventures, an investment vehicle held by Leonard Leca and Iulian Cîrciumaru, has acquired a 3% stake in Agroland. SevenX is a significant shareholder in Holde Agri Invest. Following this transaction, Leonard Leca will get actively involved in Agroland and will also be proposed for a position within the Board of Directors to be appointed at the general meeting of shareholders scheduled in April 2022.
Agroland Business System shares have been listed on the AeRO market of the Bucharest Stock Exchange since March 1, 2021 and are traded under the ticker symbol AG. The company has a stock market capitalization of over RON170 million and on October 11, 2021, AG shares were included in the BET-AeRO index developed by the Bucharest Stock Exchange for the AeRO market.