Cristal Union Group acquired an equity stake in Viro Group
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Cristal Union Group acquired an equity stake in Viro Group
Zagreb, July 29, 2016 – French Cristal Union Group, one of the largest European producers of sugar, alcohol and bioethanol, acquired 17 percent share in Viro sugar factory from Marinko Zadro, the largest private shareholder of Viro.
“We have exceptional cooperation with Cristal Union for the past ten years, and joint interest for strengthening our cooperation is the result of recognizing competitive advantages of partnership. Entrance of one of the largest European companies in the ownership structure will enable Viro group a stronger position in the segment of export, but also transfer of knowledge and experience in production of sugar and sugar beet”, stated Željko Zadro, Vir CEO.
About Cristal Union
The Cristal Union Group is among the leading European sugar, alcohol and bioethanol producers, ranking number four in sugar and number three in bioethanol. It operates primarily in France, and performs a quite significant share of its sales out of France and EU.
Cristal Union is a cooperative, which gathers ten thousand cooperative beet growers and more than two thousand employees in 20 of the 29 French beet areas.
Cristal Union has a long term strategy. It combines a keen awareness of the socially-responsible economy (strong involvement in environmental and social issues), local ties (proximity between beet growing areas and factories) and an active research and development policy (exploration of innovative production paths geared towards the future, completion of external growth operations and establishment of international commercial and industrial partnerships, etc.).
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