Agra’s is specialized in meat processing and meat products manufacturing.
The deal goes beyond EUR10 million, according to ZF sources. The two companies’ representatives chose not to unveil the value of the deal.
“This acquisition allows us to take our development strategy further by acquiring renowned players in the food sector, to attract new volumes and benefit from ensuing synergies. Also, this deal supports the company’s strategy to shift from the area of can manufacturing to being a food company,” stated Andrei Ursuleascu, general manager of Scandia Food.
By taking over Agra’s, Scandia Food expands its product portfolio, as well as the meat production and processing capacities at group level.
Agra’s, with 300 employees and turnover worth above RON100 million, monthly processes around 200 tons of meat and products are sold both through its own 9-store network, and outside it, in various areas of Romania, as well as abroad, in Italy or Cyprus.
Scandia group has over 1,000 employees and 6 production capacities. Scandia Food in 2020 generated turnover worth RON374 million, up 37% year-on-year. Profit rose by over 40%, to RON8.5 million.
(English version by Catalina Apostoiu)