Dutch Royal Agrifirm Group to invest EUR 30 million in Sto Posto

Dutch Royal Agrifirm Group, one of the largest fodder manufacturers in Europe, acquired 35 percent of the local company Sto Posto on Tuesday, and now plans to invest EUR 30 million in it over the next three years.

A specialized company within Agrifirm, Nuscience, simultaneously became a majority owner of the local manufacturer of vitamin and mineral mixtures for animal feeding, the Novi Mix company, acquiring a 51-stake in the company.

An agreement on this acquisition, whose value is kept a business secret, was signed Tuesday in the presence of Serbian President Tomislav Nikolic in the Serbian Chamber of Commerce.

The representatives of Agrifirm Group and Nuscience, Ton Loman and Patrick Kereman, signed this agreement with Sto Posto's majority owner Zoran Vukadinovic.

President of Agrifirm Group Ton Loman explained that that cooperative gathering 18,000 Dutch farmers generated annual net revenues of about EUR 2.4 billlion.

- We are leaders in the market of the Netherlands, and we want to strengthen our position not only in our country, but also outside Holland - Loman said and added that the company planned on using the same successful business model it had already developed in Poland, Hungary and Ukraine in Serbia.

He stressed that they had picked Serbia as the investment destination because it had an excellent potential in the agricultural sector, underlining that the Sto Posto company was a partner on a high professional level.