Grup Şerban Holding adds Chio Chips to its list of partners

Grup Şerban Holding, a Romanian entrepreneurial company active in various fields of agriculture, announces the signing of a partnership with Intersnack Romania to supply potatoes for the Chio chips range produced in Romania.

The initial partnership is valid for three years, with the possibility of automatic extension under the terms of the agreement.

“Potato production for industrialization represents one of the differentiators of Grup Şerban in the field of agriculture in Romania. In everything we do, our goal is to achieve excellent product quality and constantly use the most advanced technologies in the field. The partnership with Intersnack Romania means recognizing the quality and efforts made by Grup Şerban in developing potato production and, implicitly, Romanian agriculture. At the same time, this represents a new opportunity to expand our business and increase financial performance in the medium and long term. Through this partnership, we can ensure a stable and predictable revenue stream, allowing us to plan future investments and develop the business sustainably. We are grateful to our partners at Intersnack Romania for the trust they have placed in us, and we are confident that we will have a long-lasting and mutually beneficial collaboration,” stated Nicolae Şerban, Chairman of the Board of Directors of Grup Şerban Holding.

Considering the growing demand for chips globally, potato cultivation for chips has become an increasingly attractive niche. Although producing such potatoes requires specialized technologies and is more costly, the yields and prices obtained are significantly higher than traditional cereal crops. Comparatively, one hectare of potatoes for chips generates approximately the same level of income as four hectares of cereals or oilseeds. At Intersnack, chip production is carried out in full accordance and compliance with EU quality and agricultural production standards.

Grup Şerban has invested significantly over the years in developing the program for supplying potatoes for chips, and today it is one of the few agricultural producers in Romania that has the necessary production, storage, and delivery capacities for this type of potato to top players in the field. In 2022, the company cultivated approximately 500 hectares of such potatoes. As part of the partnership with Intersnack Romania, Grup Şerban is set to deliver 5,000 tons of potatoes in the first year, with an ambitious growth plan for the following years.

In 2022, Grup Şerban Holding recorded a consolidated turnover of 534.4 million lei, an 11% increase compared to 2021, an EBITDA of 67.9 million lei, +27%, and a net profit of 33.8 million RON, a 10% appreciation compared to 2021.

Grup Şerban Holding shares are listed on the AeRO market of the Bucharest Stock Exchange as of February 28, 2022, and are traded under the symbol GSH. Currently, the company has a market capitalization of approximately 300 million lei.