East Grain, based in Cluj County, is one of the leading players in the field of grain and oilseed trading and is held by several entrepreneurs in Romania and Hungary. East Group ended 2022 with a consolidated turnover of over RON1 billion (EUR215 million). East Grain, the largest company of the East Group, reported a turnover of over RON714 million (nearly EUR150 million) for 2022, as per data previously provided by the company for Ziarul Financiar (ZF) daily.
East Grain’s core business consists of grain and oilseed trading, but the company also provides logistics, warehousing, processing and integration services. East Grain has already established itself as a regional player, being present in Romania, Hungary and Serbia.
Following the transaction, Agrofert will hold 65% of East Grain shares.
To date, Agrofert, which is the largest group of companies operating in agriculture and food industry in Central Europe, held by the former Czech PM Andrej Babiš, has a strong foothold in the agribusiness sector in the Czech Republic, Germany, Poland, Slovakia, Hungary and Croatia. With this acquisition, Agrofert is significantly consolidating its presence in Romania too. In fact, for Agrofert, the purchase of the majority stake in East Grain is a springboard on the Romanian agricultural products market that will complement the existing distribution network in Romania.