“We set out to achieve faster growth rate than the market, 10%, this year. The signs are good and we believe we can beat the target,” Khaled El Solh, the 41-year old executive who runs the business with about 1,200 employees told ZF.
The processed meats market ended the year with growth of 6%, and the growth will continue in 2016, Khaled El Solh said.
Caroli’s sales have been rising year by year and if the company meets its 10% growth target this year, its sales should reach EUR100 million, double the level in the first year of economic crisis, 2009.
Caroli Foods Group accounts for 21% of the processed meats market by volume, is held by Lebanese El Solh family and by the Campofrio group and its brand portfolio includes Caroli, Campofrio, Maestro and Sissi.
On a market where consumption is 25% lower than the European average and stands at about 160,000 tons a year (retail sales), Caroli’s rivals are other local businesses such as Cris-Tim, Fox and Elit Cugir.
(English version by Loredana Fratila-Cristescu)