Acquisition, Dairy Distribution, Romania
Bongrain SA, the listed France based company engaged in production of cheese and other dairy products, has agreed to acquire a 84% stake in Delaco, the Romania based dairy distributor, from, Dragos Comaniciu, Tudor Comaniciu, the Romania based private individuals having interest in companies engaged in dairy distribution for an undisclosed consideration.
Delaco has recorded a turnover of EUR 50m in year 2008. The deal is in line with Bongrain's strategy to build the business in central and eastern European countries. Tudor Comaniciu owned 56.17%, Dragos Comaniciu owned 28%, Victor Vartolomei owned 14.08% and Romulus Dumitru owned 1.75% stake in Delaco.
The completion of the transaction which is subject to the approval of Romanian Competition Council is expected to close in the second quarter of 2010.