“As a result of the crisis caused by the international situation, we focused on expanding distribution markets to be able to avoid decline in sales by losing certain areas of distribution and at the same time continued to invest in new products and technologies,” the entrepreneur told ZF.
Phoenixy’s revenue is estimated at EU35 million in 2022, an increase on the EUR32 million of 2021.
The company is the leader of the puffs market with its Gusto brand, but also sells other types of snacks. Its puffs reach 40 markets.
It completed a EUR10 million investment project to improve the quality of the Gusto products and implement new manufacturing technologies in 2022 and expects sales volume to increase by more than 20% in 2023, Eliodor Apostolescu said.
(English version by Loredana Fratila-Cristescu)