Albalact group includes dairy manufacturers Albalact and Raraul Campulung Moldovenesc and Albalact Logistic, owned y Albalact SA.
In 2014, Albalact completed a series of investments started in 2013, which mainly targeted the modernization and expansion of the production capacity of its factory in Oiejdea (Alba county). The company earmarked nearly EUR8 million for the investments.
Albalact will be listed on the regulated market of Bucharest Stock Exchange on June 3.
The company is Romania’s largest dairy processor whose portfolio includes over 150 products sold under its five brands: Zuzu, Fulga, De Albalact, Raraul and Poiana Florilor.
Last year, the company registered a turnover of RON447.9 million (EUR106.9 million), up 12.2% on the year, and a net profit of RON12.3 million (EUR2.78 million), up 46.4% on the year.
In 2015, it targets a 7% increase in turnover in 2015, to RON508.5 million (EUR115 million), and earnings before interest, taxes, depreciation, and amortization (EBITDA) of RON31 million (EUR7 million).
Local businessman Raul Ciurtin indirectly owns a 42.53% stake in the company, through Cyprus-registered Crisware Holdings (26.86%) and Croniar Holdings Limited (15.67%). Cyprus-registered investment fund RC2 Limited owns a 25.45% stake.