The assets put up for sale by Abo include grain silos in Oradea and Codlea, wheat mills in Sfantu Gheorghe and Zalau, chicken farms, a slaughterhouse, an animal feed plant, as well as office spaces, according to a sales ad posted on the company’s website.
This is the first such move by a top company on the market, and follows public statements by many large producers who said their businesses are suffering both because of the black market and because raw material prices have doubled in the last year.
The business of Abo Group had shrunk in three years from EUR60 million to EUR30 million, according to Finance Ministry data. In Romania the Abo group operates through Abo Mill (milling and bakery), Abo Mix (animal feed), Abo Trade (grain trade) and Abo Farm (chicken farm).
The sale of Romanian assets is part of a wider plan to reorganize Abo Group, which also includes parting with plants in Slovakia, Ukraine and Hungary. Romanian representatives of Abo had not answered ZF’s request for information on the estimated value of assets put up for sale or to provide the name of investors interested in buying them by edition close.