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Cargill reaches deal to buy stake in Romanian oilseed company
Cargill, Inc. has reached an agreement in principle to buy a majority share in Olpo, a Romanian oilseed crushing, refining and bottling company.
Cargill, based in Minneapolis, Minnesota, U.S., already has a network of silos in Romania to facilitate the supply of raw materials, said Rod Sanderson, Cargill’s manager in Romania.
Olpo is constructing a new crushing line with an extra capacity of 600 tonnes per day of sunflower seeds, soybeans or rapeseed. The increase will boost the factory’s processing to about 1,200 tonnes per day.
Sunflower seeds constitute the key part of Olpo’s oil production. Olpo employs more than 600 people and produces two branded bottled oils: Bunica, a premium brand, and Olpo, a local brand.
Cargill reached the agreement to buy Olpo with a holding company, Topway, and its shareholders. The agreement remains contingent on regulatory approval.
Cargill already has completed one acquisition in Romania this year. The company in April received approval from the Romanian competition authorities to purchase Comcereal S.A. Alexandria, a grain silo company.
That acquisition provided Cargill with a network of grain storage facilities in the Romanian grain belt.
MGR Archive 7.11.2004
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Region Type Price  
Russia Rapan $ 700
USA Jupiter Rice $630
USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
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