The transaction is pending approval from Romania’s Competition Council.
Sarcom Valcea is the producer of Sticky and Coral paint brands.
Upon the completion of the transaction, ROCA will focus on optimizing the strategy and management structure within Sarcom, in order to maximize the company’s potential, in terms of brands and commercially and operationally as well.
Sarcom has 116 employees and reported a turnover of RON56.9 million, an EBITDA of RON15.8 million and a net profit of RON12.3 million in 2020.
ROCA Investments was founded more than three years ago by CITR Group, brothers Adrian and Dragos Paval – the owners of do-it-yourself (DIY) retailer Dedeman – businessman Dan Sucu and Astra Rail Management, held by Thomas Manns Its initial share capital was EUR4.5 million to which all associates contributed.
ROCA is present in ten Romanian counties, in five large sectors of activity: agrifood, logistics, industrial services, building materials manufacturing and personal care. The 13 companies included in its portfolio (of which two inactive) generated a combined turnover of EUR98 million and an operating profit (EBITDA) of EUR5 million in 2020, having over 1,000 employees.
The Romanian paints and coatings market stood at RON1.6 billion in 2020, with a compound annual growth rate (CAGR) of 10%. The market is on the rise and, according to estimates, it is seen reaching RON732 billion in 2024 globally and RON2.4 billion in Romania.