History

The roots of Gabona Rt. go back to the late 80’s, the times of preparing for a change in the social and economic regime in Hungary. Gabona Kereskedelmi Kft was set up in 1989 as a joint marketing company of the 19 county grain purchasing and processing companies, each getting freshly independent after the nation-wide Grain Trust had been dissolved. The new company appeared in the market as the only professional alternative to the state owned monopole government agency for cereal exports. Within a year of foundation capital was raised involving new shareholders from the banking community.

It was on 1^st July, 1991 when the structure was transformed into a joint stock company with a registered capital of HUF 1.138,5 million. Further professional companies joined then as shareholders, like Bábolna, the flagship of Hungarian agriculture.

The years to follow were marked by the mainstream of privatisation in Hungary. Our shareholders were subjected to this process and so was our competition. At one stage it was possible for the company to acquire more of its own stocks and offer a good part to employees under a preferential scheme (MRP=employees’ shareholding scheme). A sizeable stake was sold at that time to a Swiss-based international trading group, André & Cie. By 1996 privatisation of Gabona Rt. had been completed and no more shares belonged to the State any more.

Profits arising out of the very successful trading activities have been retained and gradually invested in processing activities and logistics. The first flour-mill was acquired in 1993, the investments were made in regional distribution and storage centres and also feed milling. A more comprehensive and sizeable investment was to acquire a majority stake in Pannon Gabona Rt, a large regional milling and feed manufacturing company in the West of Hungary. Diversification brought us into the financial markets in 1997 by establishing our own stock and commodity futures brokerage subsidiaries.

Gabona Rt. undertook a leading role in organising the Hungarian Association of Grain Processors, Feed-millers and Traders. We have been members of GAFTA since the early 90’s, and through the outstanding activities of the founding chairman of Gabona Rt, the late dr. Daniel Lacfi, there was a Hungarian vice president and president-elect of the international association. His early departure was a great loss not only to us but also to the international trading community.

Gabona Rt. have established themselves as a leading trading house in Hungarian agricultural commodities. The expertise in international trading coupled up with a strong base in nation-wide processing and purchase/distribution network are assets that provide a healthy base for the long-term strategies of the Gabona Group. 
 
 

Governing bodies of the company (as of 25^th apryl, 2002)

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