The Austrian investment group Accession Capital Partners (ACP) has bought the agricultural company Spearhead, which operates on 83,000 hectares in five European countries, including the Czech Republic. The company has so far been owned by the British investment fund Paine Schwartz Partners. In the Czech Republic, Spearhead farms on 25,000 hectares and is thus the number two Czech agricultural market after the Agrofert Group. Economic newspaper (HN), which reported on the transaction.
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The closing of the sale was confirmed to the daily by the director of the Spearhead International Group in the Czech Republic, Iain Dykes. The price of the transaction was not disclosed.
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The Czech company J&T applied for the Czech part of the Spearhead group, but failed with its offer. The British owner preferred an Austrian bidder who bought the business in all five European countries. The Spearhead International Group manages a total of 83,000 hectares in the Czech Republic, Poland, Romania, the United Kingdom and Slovakia.
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In the Czech Republic, which is the second most important country for the Spearhead Group after Poland, it manages 25,000 hectares, mainly in Haná, northern Moravia and Vysočina. But it also has farms around Hradec Králové or Jindřichův Hradec.
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According to economic results, HN estimates the value of the Czech part of Spearhead at 1.5 to two billion crowns. For the entire group, the purchase price, including debt, could amount to approximately nine to ten billion crowns, the daily reports.
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