M&A alert. Sigma Alimentos takes over the cold cuts producer Caroli Foods group

Caroli Foods Group, ranked in the top 10 biggest companies in the meat industry, was taken over by Mexican multinational Sigma Alimentos, which acquired 51 percent of shares. Sigma Alimentos already owned 49 percent shares and now has taken over completely the company.

The Romanian company Caroli Foods Group was controlled until this Friday by the Lebanese family El Solh. The current transaction doesn’t bring major changes in the management, Khaled El Solh will still be the CEO of Caroli Foods Group, together with his management team.

„It is an important step in the development of Caroli Foods; Sigma experience on the global operations and the expanded range of products represent concrete assets in our approaches of brand development,” said Solh.

„This acquisition allows us to bring forward the development strategy in the extremely attractive region of Eastern Europe,” said Mario Paez, CEO of Sigma.

Caroli Foods Group registered a turnover of RON 430 million (EUR 96 million) in 2016 and currently has over 1,200 employees.