Sugar maker Tereos to sell Romanian business to local investors
Wednesday, February 1, 2023
Tereos announces the signature today of the takeover of its sugar activity in Romania by two independent Romanian investors (Mihaela Neagu and Mihail-Daniel Matache, investors in the agri-food and consumer food sector). Tereos is pleased today to have found a buyer for the Ludus industrial site, for which the Group had announced plans to close in 2021. “It is a bold project that we wished to undertake with the aim of relaunching sugar production in the country this year. In 2021, sugar from beet grown in Romania provided about 25% of domestic consumption needs. We will start negotiations with farmers in the next few days, as the sugar beet for the autumn 2023 campaign is to be contracted during this period. We want to assure the 300 or so growers in the region that we are open to collaboration and we also want to assure the more than 150 employees that they will keep their jobs,” says Mihaela Neagu, independent investor. Reuters reports: Best Achizitii, a company founded by Neagu, took over another Romanian sugar factory, Bod Sugar, last year, according to local media reports.Click here to connect to the source of this storyClick here for more News and Views
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