Romanian cardboard producer Vrancart Adjud has pur-chased a majority stake in local competitor Rom Paper Brasov.
“We are pursuing our development strategy through acquisitions that com-plement our business,” Ionel Ciucioi, the chief executive of Vrancart Adjud, told local business news site Profit.ro. “Following the acquisition, we aim to ensure that our revenues grow by expanding our product portfolio, in-crease our use of common distribution channels, and also achieve syner-gies from integration.”
The amount of the deal was not disclosed. Last year, Vrancart Adjud re-ported sales of about RON 51.6 million (€11.6 million).
Rom Paper Brasov was set up in 2002, and the company owns a produc-tion facility in Brasov, Romania. The firm specialises in making tissue pa-per.
