The producer of Fuchs and Cosmin spices acquired the packaging maker from Denmark-registered Saffron Holding A/S.
In 2013, the packaging maker generated revenue worth around 4.3 million lei (EUR1 million) and profit of RON1.4 million, returning into the black after a year of losses, according to Finance Ministry data.
Fuchs Condimente Ro did not answer ZF’s request for information on the company’s plans about the packaging producer by edition close.
The deal was sealed at a price of around EUR1.7 million, according to the same source. This is the first acquisition made by the German-held group in Romania, where it has been operating since 2001.
In mid-2014, Fuchs Condimente Ro, the local subsidiary of the German group of the same name, got a capital inflow of RON18 million (EUR4 million) from its parent company. At that time, the company’s officials did not specify the destination of the money.
The German group owns a production unit in Curtea de Arges (Arges county), after initially holding a plant in Domnesti in the same county.
Fuchs Condimente is one of the biggest players on the local spice market and it ended 2013 with revenue of RON61 million (EUR14 million), up 3% from the previous year and with 220 employees, according to Finance Ministry data. The company’s profit reached RON1.7 million in 2013.
(English version by Catalina Apostoiu)