Budapest, November 2011

Granit Agriculture Kft, part of the trading arm of the French Axereal Group has acquired 2 grain silos in the Hungarian towns of Enying and Dombóvár for an undisclosed (between € 1 and € 5 million) consideration.

The Axereal Group is a French farmers’ cooperative, active in grain inputs, integration and storage, trading and industrial transformation, including malting, milling, animal feed, oil crushing and bio-ethanol.

Axereal has been present in Hungary since 2003, when it founded Mitemag Kft, specialised in the production and distribution of cereals, rapeseed and sunflower seed in Hungary and surrounding countries. In 2010, Axereal Group reached EUR 2.2 billion sales turnover with 3500 employees, for 13000 farmer-shareholders. Apart from Central Europe, Axereal is also present in Belgium, and the British Isles.

Concorde MB Partners advised Axereal in this acquisition transaction.