Tereos announced 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 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,” Neagu said. “In 2021, sugar from beet grown in Romania provided about 25 percent of domestic consumption needs. We will start negotiations with farmers in the next few days, as the sugarbeet 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.”
“We are very pleased to have signed with these two investors. This continuation of activity allows us to secure jobs and maintain the sugar business in the Ludus region. This sale of course enables us to adhere to our 2021 strategic plan,” said Gérard Clay, Chairman of the Board of Directors.
Finalisation of the transaction should take place during the course of next week.