The total investment amounted to EUR120,000, company officials said.
“Our own stores remain important. We are an entrepreneurial business and we believe in reaching consumers directly,” said Vlad Ciuburciu, general manager of Vascar.
The company’s turnover grew 15% in the first nine months and the company invested EUR1 million in raising increasing production capacity and developing facilities needed to create new products.
Vascar expects a turnover of over EUR21 million at the end of 2019, up 20% from EUR18 million in 2018, according to company data.
Vascar’s strategy targets growth of the business lines and the extension of the portfolio of products, through major investments that will continue in 2020.
Romanian-held Vascar, established in 1984, in Vaslui, owns a processing factory in Vaslui and 19 own stores in the region of Moldavia. Vascar also produces private label products for retailers Carrefour, Mega Image, Penny Market and Lidl.