Caroli Foods Group, Campofrio Food Group sign merger contract
The newly emerged entity will be named Caroli Foods Group. The combined turnover of the two companies is in excess of 120 million euros and together they control a market share of over 16 percent. The transaction is now awaiting approval of the Competition Council. Romania will remain the main outlet market of Caroli Foods Group, but the new joint venture also intends to develop its presence in Southeastern Europe.
Caroli Foods Group will hold 51 percent of the new company’s stake and Campofrio Food Group will control the other 49 percent of the joint venture. The new group will be run by a management board made up of five members, representing Caroli Foods and Campofrio, and headed by Talal El-Solh. The current Caroli Foods CEO Haluk Akdemir will take over as CEO of the new joint venture.
Caroli Foods produces five brands of cold cuts – Gourmet, Caroli, Maestro, Sissi (in franchise) and Primo Familia. In the 12 years of presence on the market, Caroli Foods has invested over 35 million euros in cold cuts processing and distribution (technology, cleaning and sterilization equipment, human resources). The group owns two factories in Pitesti, with a production area of over 18,000 square meters.
The main companies under the umbrella of Caroli Foods Group are Caroli Prod 2000, T.C. Affaires, Indcarf S.A and Maestro Industries. Campofrio Food Group has over 250 million consumers and its sales in 2009 stood at 1.846 billion euros. Campofrio Food Group owns seven companies that operate interdependently and that rank first by market share in Spain (Campofrio), France (Aoste), Portugal (Nobre) and the Netherlands (Stegeman).
The company also ranks second in Belgium (Imperial), has a relevant presence in Italy (Aoste) and boasts a major penetration in various segments in Germany, due to its high quality products (Deutschland CFG).