“The deal included the farms controlled by Campofrio in Sibioara and Fantenele, and the amount agreed upon was about EUR2.5 million,” said Martin Dorin, general manager of Degaro, the company that the Danish group bought. “The farms were not populated at the time. Now there are 3,000 sows, 7,000 piglets and 7,000 pigs.”
The Spanish group dropped its Romanian livestock operations because the revenue of its farms had gone down 11 times to EUR0.2 million from 2008 through 2010. This business posted EUR1.3 million in losses and totaled EUR3.9 million during the period considered.
Campofrio, however, continues to operate in this country via the partnership it has with Lebanese family El Solh in Caroli Foods, one of the top ten players on the local cold cuts market.
It plans to sell more Romanian assets worth EUR1.65 million included in the “plant, land and equipment” category.
(English version by Loredana Frățilă-Cristescu)