Civita Group Plc. is planning a public share issue in November. As a processor of raw materials and ingredients, it will be the only food company listed on the Budapest Stock Exchange, the company said. A large-scale investment program is planned with the raised capital, as well as state support and bank loans.
Civita Group Plc. is a corn processing company based in Monostorpályi, E Hungary. It operates a state-of-the-art corn oil and pasta plant in addition to a corn mill. It produces for a niche market that offers people with coeliac disease a full life. The raw material is processed without additives and chemicals, the company said in a statement.
Corn is a crisis-proof business model for the Civita Group, according to CEO Gábor Vaszkó. They consider it important to get their capital injection program underway as soon as possible, as it will "come to fruition" sooner. The Civita Group (which operates with a short supply chain) is one of Hungary's largest maize processors among food producers. Its product portfolio ranges from baby food to edible plates.
The CEO believes that the group is ready for the stock market by exploiting the potential of maize. “The fact that the raw material is sourced from within a 50-kilometer radius is a significant competitive advantage. The maize is supplied to the plant from 7,000 hectares and the production base has remained largely unchanged for a long time," he said.
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