The Braila-based silo has a storage capacity of 25,000 tons, and the one in Tandarei of 23,000 tons. The two silos together employ 29 people, who will be taken over by Soufflet once the acquisition is completed, the two groups said in a press release Tuesday.
The acquisition will increase Soufflet’s storage capacity in Romania, where the company is rapidly expanding. Soufflet Agro Romania already has numerous customers in the region, and plans to build relationships with other local farmers, reads the press release.
Cargill’s decision to sell stems from a strategic review of the company’s operating needs and the two silos were surplus to the company’s storage requirements.
“Cargill remains strongly committed to Romania and Romanian agriculture and will continue to expand in the country,” according to the press release.
Soufflet is the alrgest private collector of grain in France, with 3.65 million tons of grain collected, plus almost a million tons abroad. Soufflet owns 42 plants in Europe.
Cargill specializes in the distribution of grain and other agricultural products. The group is present in 65 countries. It bought its first silo in Romania in 2000 and expanded its local network following acquisitions and investments.