Tea and herbal remedy producer Fares had a turnover of RON81.9 million (EUR17.2 million) in 2019, up 12% on the year.
The products under the Fares brand reach several countries outside Romania, among which Hungary, Italy, Spain, UK, Malta, Cyprus, Greece, Norway and Belgium.
The company has reached 375 employees after hiring 88 people in 2019. Fares officials said the tea market grew 4% in 2019, and expect the current market growth rate to maintain in 2020.
In 2019, Fares invested nearly EUR1 million in renewing its car fleet, acquiring agricultural machinery, expanding its own medicinal herb crops, as well as modernizing and equipping productive spaces.
For 2020, the company targets investments of approximately EUR1.2 million in production equipment and installations and in the construction of new production facilities. The company also eyes developing the external market, strengthening its foothold on the local market and on the new HoReCa (hotel, restaurant, café) segments, as well as developing new ranges of products.