December 2020 – Kinstellar is pleased to announce that it has successfully advised FirstFarms A/S, a leading Denmark-based investor in agriculture and land in Eastern Europe, in relation to an agreement to purchase rent contracts with a duration of up to 10 years in eastern Romania. With this agreement, FirstFarms will further strengthen its platform in eastern Romania, where the company has silo capacity for 20,000 tons of crops. FirstFarms currently operates 21,000 hectares, of which 10,000 hectares are in Romania.
Anders H. Nørgaard, CEO of FirstFarms, states: “Value increase of our land portfolio is a large part of our business model. With this purchase, we will create synergies within our current operating areas. FirstFarms has unique knowledge about the operation and development of land, along with the purchase, storage and sale of crops. With this agreement, we strengthen our platform further, especially in eastern Romania, where FirstFarms has silo capacity for 20,000 tons of crops’”.
Kinstellar’s team in Bucharest was coordinated by Răzvan Popa, Partner.
Răzvan Popa comments: “We are delighted and honoured to support FirstFarms on their ambitious development projects in Romania. This is the latest in a series of agriculture deals that Kinstellar has advised FirstFarms A/S on recently. Earlier this year, we advised the company on the sale of a farm of approximately 1,700 hectares in western Romania. Agriculture has been and continues to be a sector of great potential in Romania and is experiencing significant growth from year to year. We have built in-depth expertise, know-how and a solid track record that make us best equipped to help our clients to be successful. We would like to thank FirstFarms for entrusting us with their projects in Romania.”