In the wake of the deal, whose value has not been disclosed, the two entrepreneurs still hold a 44.27% each.
An additional 0.23% stake in RodBun was acquired as part of the same deal by Ionut Sas, VP Tax at UiPath.
“We are happy to announce our first deal in the Romanian agriculture field through RodBun investment. We strongly believe the future of agriculture is based on research, innovation, digitalization and sustainability. RodBun is a unique company on the local market, one of the pioneers of Romanian agriculture digitalization. The option for RodBun comes from our desire to actively support Romanian entrepreneurs’ strategic plans to become significant regional players,” says Daniel Dines.
In line with the latest finance ministry data, of end-2021, RodBun reached RON640 million turnover and net profit of RON38.5 million.
The tie-up between Ice Vulcan Properties Ltd and RodBun also takes into account a possible listing of the company on the Bucharest Stock Exchange.
“Rodbun is celebrating 20 years of existence these days. We are entering this partnership believing it ensures a synthesis between our experience and vast infrastructure on Romania’s agro market, on the one hand, and the global vision of Daniel Dines’ team, based on excellence in technology, on the other hand. We are looking forward to working together with Daniel Dines and Ionut Sas in the process of turning RodBun in a significant regional player, which will decisively influence the Romanian farming sector,” says Daniel Muntean, co-founder of RodBun.
The deal was brokered by law firm DLA Piper.
(English version by Catalina Apostoiu)