“The transaction is expected to be finalized next week”, said Naturevo representatives, adding this would be announced in a press conference.
Ziarul Financiar (ZF) daily previously reported that there were talks regarding this deal, so that Sumitomo can strengthen its position on local the market.
Naturevo is a Romanian-held company developed by Ioan Enoiu, which sells farming inputs such as seeds, fertilizers, biostimulats and fodders.
After Sumitomo’s acquisition of Naturevo, the latter of which raked in RON177 million turnover in 2023, Sumitomo would create on the local market a player that would near RON1 billion from farming input sales. Thus, it would get close to German-held companies Bayer and BASF.
At present, Alcedo ranks fifth among farming input wholesalers by 2023 turnover, of RON609.9 million.