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Csányi company submits highest bid for Herz Salami assets

Bonafarm, a company owned by food industry magnate Sándor Csányi, has submitted the highest bid in a liquidation of the assets of Budapest's Herz Salami Factory, daily Népszabadság said on Tuesday.

The purchase must still be approved by the Competition Office, the paper said.

The factory's assets were priced at HUF 3.5 billion, including HUF 1.7 billion for brands and patents, HUF 1.43 billion for property and HUF 320 million for machinery and equipment. The value of stocks was HUF 50 million.

Bonafarm will sign the contract for the assets in 2-3 weeks.

Herz's flagship product Budapest winter salami was granted “protected designation of origin” by the European Commission shortly before it was ordered under liquidation in May. Csányi controls Pick-Délhús, Hungary's biggest meat company. He is also the chairman and CEO of OTP Bank, Hungary's biggest commercial lender. (MTI-Econews)