According to company representative, the measure was taken in order to meet demand domestically and the exports, expansion works going to be finalized till next year-end.
“We will invest over 10 million euros by the end of 2009 to achieve all planned projects objectives,” said General Manager Sotiris Yannopoulos quoted by Business Standard daily.
Yannopoulos said that all chips and snacks sold in Bulgaria come from Romania.
PepsiCo bought Star Foods in November 2004 through Snack Ventures Europe, a joint venture between PepsiCo and General Mills. At the end of 2004, PepsiCo became the company’s sole shareholder, by acquiring General Mills participation in Snack Ventures Europe.
The total salty and sweet snack market will exceed the value of 965 million RON (272 million euros) in 2012, with an annual growth rate of 9%, reveals a study conducted by research market company Euromonitor.
The top five snack producers are Star Foods, European Foods, Phoenix, Standard & Snacks, and Chio Romania, with a combined 80.8% market share, informs a study conducted by market research company MEMRB.