Dannish investors pay €25m for a Slovak farm
FirstFarms paid €24.5m to acquire farm JK Gabčíkovo from Hospoda Invest. Both FirstFarms and Hospoda Invest are controlled by Danish farmers. JK Gabčíkovo is active in crop and pig production. It has 2,300 sows with a yearly production of 75,000 pigs, of which 40-45,000 are sold as piglets and 30-35,000 as slaughter pigs. It farms on 1,500 ha of land, mostly planting wheat, rapeseed, and maize. “The agricultural production in Eastern Europe is in a really good development. The price of land is increasing, and the demand for pork is large,” says FirstFarms. Last year, JK Gabčíkovo posted a 40% drop in net profit to €1.5m and its sales stagnated at €8.5m. FirstFarms has three farms in Slovakia with annual sales of €28m.