Sep. 5, 2019
The Turkish group Toros Tarim and Canadian shareholders of Agrium Agroport recently signed a take-over agreement which will be completed by the creation of a new company – Toros Agroport Romania SA- to be registered in September, “Ziarul Financiar” announced.
The value of the transaction has not been disclosed.
Agroport, a farming business, was set up by the Romanian Florin Radu who got under the umbrella of the Canadian group Agrium in 2014, in Romania, produces and distributes fertilizers under Nutrien brand.
“Our purpose is to make Romania, an important agricultural country, become our second largest distribution market. We want to become known there,” said Hakan Goral, the agrobusiness vicepresident of Tekfen Holding and president of the administration board of Toros Tarim. According to Hakan Goral, Toros Tarim wants to become an important regional player through geographic expansion initiatives.
Agrium is a Canadian group with world activity and businesses of 19.6 billion dollars (17.7 billion euros) in 2018. In Romania, the Canadian group came in 2009 and in 2014 it was one of the biggest players in local agrobusiness, with businesses of over 100 million euros from wholesale of chemical fertilizers and from the purchase of cereals and oil seeds for export.
The Turkish group Tekfen Hilding has activities in 3 important sectors: agrobusiness, real estate and contracting, with 40 companies and 12 branches at international level, according to company data. The group had 1,140 employees in 2018 and total stock of 2.96 billion Turkish pounds, about 460 million euros.