The former leader had kept its position on a market of more than 10 billion lei (over EUR2 billion) for over a decade.
Interbrands Marketing & Distribution, which posted EUR173 million revenue in 2016, is indirectly controlled by the Lebanese Sarkis family.
Aquila Part Prod Com ended last year with almost RON798 million (EUR177 million) revenue, an increase of 18% on the previous year, according to the Finance Ministry data. In comparison, Interbrands’ revenue rose by 6% last year.
The increase in Aquila’s revenue comes at a time when most of its customers are food industry companies, a sector that saw a significant growth last year.
Consumer spending rose by more than 13% in 2016. The rise in spending on food was even higher at times, by more than 30%, according to National Statistics Institute data. Consumer spending was the main growth driver of the economy last year, and the GDP went up by 4.8%.
On the other hand, Interbrands Marketing & Distribution has cigarette producers among its customers, which generate a high business volume. However, this particular market did not experience the boom the food industry did last year.
(English version by Loredana Fratila-Cristescu)