Dedeman owners expand into agriculture
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The Pavăl brothers, the owners of Dedeman, are expanding their business in agriculture. Pavăl Holding bought the Dueci Agro company, owned by Italian investors, at the end of last year, according to data from the Official Gazette.
Pavăl Holing bought all the shares of the Dueci Agro company, owned by the Italian Lovato Ricardo.
“The price of the land is 5,000 euros per hectare for the land located within Tulcea county, in the Cerna and Peceneaga communes, and 6,000 euros per hectare for the land located within Brăila county, in the Frecăței commune, resulting in a total amount of 1.87 million euros based on the area declared in the letter of intent,” the Official Gazette states.
The company’s business scope was also changed from the cultivation of non-permanent plants to the cultivation of cereals (excluding rice), legumes and oilseed plants. Dueco Agro had a turnover of 326,000 lei in 2023 and a profit of 369,000 lei.
The Pavăl brothers also purchased over 310 hectares of agricultural land from the Agristar company in 2021.
Pavăl Holding is the investment vehicle owned by Dragoș and Adrian Pavăl, and is also the largest local entrepreneurial group, which owns the Dedeman company and multiple other high-profile investments in Romania in sectors such as real estate, private equity, agriculture, automobiles, energy, industry and banking.
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