Holding Agrofert from the trust funds of former Prime Minister Andrej Babiš (ANO) has completed the takeover of a majority stake in the company Krow, which is the parent company of the agricultural enterprise Ciz-Agro from Cizkrajovo in Jindřichohradeck. It was written by the Hospodářské noviny (HN) server.
The original owner and director of the company, Jaroslav Pokorný, retained a thirty percent share in Krow. According to the data in the commercial register, the rest is now held by Agrofert through its subsidiary ZZN Pelhřimov.
Thanks for cooperation
The main partner is the Prague Stock Exchange, the project partners are ČSOB, Galileo Corporation, Orlen Unipetrol, Deloitte and Kunsthalle.
In plant production, Ciz-Agro focuses on the production of feed mixtures and supplies biomass for the partner biogas station, which falls directly under Krow. Last year, Ciz-Agro, with sales of 160 million crowns, reported a net profit of 23 million crowns. The company’s profit before interest, taxation and depreciation (EBITDA) exceeded 46 million crowns last year.
According to HN, interest in purchasing agricultural enterprises declined this year after changes in the payment of agricultural subsidies, which reduced support for larger companies. In general, only the largest and most financially powerful groups buy, the server writes. Agrofert recently bought, for example, the company ZKS Agro Zahořany or the hop grower TUFA in Central Bohemia. According to HN holding, it is also conducting advanced negotiations on the purchase of the South Moravian farm Svornost Těmice.