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Ingleby outruns major Romanian farming business ownersUpdated: 04-03-2010 | Business
Ingleby Agricultura, part of the Ingleby group controlled by Danish billionaire family Rausing, paid 8.2 million euros to buy 2,000 hectares of farming land, machinery and buildings in Timis County from another Danish group, FirstFarms, at the end of December. As a result, the company now owns 7,300 hectares of farming land and almost 4,200 hectares of forests, after successive acquisitions over the last three years, the data on the group's website reveal. At an average price of 2,000-3,000 euros per hectare, the value of Ingleby's investments in the land owned in Romania stands to 23 to 35 million euros. The company officials did not reveal any details about what they intended to use the land for or whether they planned to buy more or not. According to the National Trade Registry Office, the Danes have five agricultural companies registered in Romania. With its about 11,500 hectares, Ingleby has outrun the major Romanian farming business owners such as Interagro's Ioan Niculae, who owns 10,000 hectares, Culita-Tarata, who owns TCE 3 Brazi and 500 hectares and Mihai Anghel, owner of Cerealcom Dolj, who has 4,000 hectares.
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