The new entity will be called Interbrands-Orbico, will consist of four companies (two of Interbrands and two of Orbico) and will have a combined turnover of EUR800 million and 2,000 employees in 2021.
Rand Sherif, who had run Interbrands for over two decades, is left with shares in the new entity through the company Deba.
“This year, we have witnessed a qualitative change of control over Interbrands, from the joint control of Orbico-Deba into the sole control of Orbico Group. The shareholding and stocks structure remains the same: Orbico 60% and Deba 40%”, Ioana Boghenco (former Teodorescu), Chairwoman of the Executive Board and general manager of the new company Interbrands-Orbico, told Ziarul Financiar (ZF).
“The merger project integrates under a single legal entity the four companies in Romania of Orbico Group, respectively Interbrands, Professional Brands, Orbico and Orbico Beauty. On October 1, 2021, the actual date of the merger, the umbrella company is Interbrands Marketing & Distribution, and the transition to the new name “Interbrands – Orbico” will be carried out within a new stage, in the near future”, Boghenco also told ZF.