Sigma Alimentos, the frozen and refrigerated foods firm, has strengthened its presence in eastern Europe with the acquisition of a further 51% stake in Romanian meat firm Caroli, taking its shareholding in the company to 100%.
Caroli is a leading producer of ready-to-eat packaged meats with more than 23 years of operation, marketing products under local brands such as Caroli, Sissi and Primo. The company operates a plant in the city of Pitesti, where it employs more than 1,200 staff. In 2016, Caroli generated sales equivalent to €88 million ($105 million).
Commenting on the acquisition, Sigma CEO Mario Páez, said: “This acquisition allows us to continue with our growth strategy in the highly attractive region of Eastern Europe”.
Sigma Europe CEO Ricardo Doehner added: “We are determined to combine the best of Sigma with Caroli in order to continue delivering superior value to the Romanian consumers”.
Source: Sigma Alimentos