French dairy firm Bongrain has bought into Romanian dairy producer and distributor Delaco, the local company has announced. The value of the share package taken over has not been made public. Delaco was set up by Romanian investor Tudor Comaniciu in 1996 as a family business, and now employs 300 people.
The agreement between the two companies is in line with Delaco’s strategy of development which involves consolidating market share and expanding on new market segments.
The move is also part of Bongrain’s plans to further build its business in Central and Eastern European countries. Bongrain is present on the Romanian market with the Apetito and Caprice de Dieux brands.
The contract was signed this month and has been submitted for the approval of Romanian Competition Council. Law firm Biris Goran assisted the French firm in its acquisition of a stake in Delaco.