Granex is a company with EUR16 million revenue a year and EUR4 million in assets. Brise Group officials did not provide any comment on the deal on Wednesday.
Granex is known in the agribusiness industry as a company that had been previously working with Brise Group as a provider of transportation services with its truck fleet. The carrier has been in business for sixteen years and its operations include grain transportation and feed trade.
The takeover comes after a year and a half during which Brise Group has been very active on the merger and acquisition and investment fronts. It invested in its storage infrastructure, bought 40% in a fertilizer distributor in Italy and took the first definitive step on the agribusiness finance market by establishing a non-bank financial institution. It also bought some farmland.
Brise Group’s more than EUR260 million yearly revenue comes from grain trade and distribution of fertilizers, pesticides and seeds. It is one of the few local businesses in its sector competing with multinationals like ADM, Cargill and Bunge.
(English version by Loredana Fratila-Cristescu)