Contacted by ZF, the officials of the two companies did not provide information on the transaction, which has already been signed and will be completed this year.
Thus, GoodMills will keep only its milling division in Romania, as the company holds milling divisions in several European markets and Romania was the only country where it owned milling and bakery divisions.
GoodMills Romania (former Titan) is one of the largest players on the local milling and bakery market. In 2015, the company reported a turnover of RON314 million (EUR70 million), up 1% compared with the previous year, according to Trade Registry data.
Last year, shareholders decided to divide GoodMills Romania into two companies, Frozen Bakery Products SA and GoodMills Romania.
GoodMills’ rivals on the local market are Vel Pitar and Boromir.