Cargill is to quit the vegetable oil business in Romania in a bid to develop its agricultural operations in the country.
The US agribusiness giant has agreed to sell assets that include the Untdelemn de la Bunica and Olpo to Expur, part of French group Sofiprotéol.
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“Cargill has a strong presence in Romania and it remains a strategically important country for us. We will continue to grow our local business offering farmers a range of products, services, advice and financial tools,” Martin Schuldt, president of the board of Cargill’s oils business, said. “Expur, part of the French Sofiprotéol Group, is already operating in the Romanian vegetable oil market and we believe our agreement provides a better opportunity for the future of this business and its brands.”
The deal, which Cargill said is subject to the approval of competition authorities, will see the company close a plant in Podari, which is not part of the transaction.
