CPI Property Group has acquired Spojene Farmy (SF), one of the largest owners of farmland and producers of organic foods in Czech Republic for €43.5 million (US$54.5 million). SF operates 20,000 hectares on the Czech Republic and has additional interests in Germany, Poland, and Slovakia. CPI Property Group has also agreed to invest an additional €20 million (US$25 million) over the next two years into SF expansion projects. Founded in 1992, SF controls 24 farms, and related services, processing, and retail operations. The company produces organic beef, chicken and lamb supplying markets in the EU and the Middle East. CPI Property Group states that the company’s shift into agriculture and agribusiness is an important one as farmland is one of the safest existing investments with potential for appreciation in value, especially in the Czech Republic.
To receive relevant news stories with summaries provided by GAI Research & Insight, subscribe to Global AgDevelopments, our free weekly enhanced eNews service