“We have EUR30 million for buying farmland or farms, we only seek to buy 500 hectares or more in one go, registered with the land registry and as consolidated as possible,” Dan Stefanescu said.
“We pay EUR2,500 to EUR8,000 depending on the surface area, soil quality, land consolidation rate and the possibility to buy more in the area or trade, irrigation systems, proximity to Danube harbors, storage capacities in the area, existing equipment and other factors.”
Gersim – which Stefanescu owns 100%, is the largest local mobile phone and tablet distributor in Romania and the second leading distributor on the IT&C market, behind Network One Distribution of Iulian Stanciu.
Gersim has posted 70.4 million lei (EUR15.8 million) net profit and RON2.4 billion revenue in the last three years.
Stefanescu’s investments in agriculture amount to almost EUR4 million so far.
“I own 1,200 hectares of farmland in Dolj and Constanta Counties, which we rented out. I have invested EUR3.5 million so far.”
BRISE Group, the largest Romanian-held agribusiness group, owns 17.000 hectares of land.
Dan Stefanescu says he decided to invest in agriculture for practical reasons – the huge potential of the sector and him wanting to invest in Romania.
“I’m investing in the Romanian agriculture, I believe in this huge potential and last but not least it’s a patriotic thing, the money I made in Romania must stay in Romania and be put to work for the country. It pains me to see how one of the most valuable assets of Romania is being sold to foreigners. Farmland should continue to be held by Romanians. Foreigners hold directly and indirectly via companies an estimated 20% of the country’s farmland.” (EUR1=RON4.4572)
(English version by Loredana Fratila-Cristescu)