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SOFIA (Bulgaria), May 20 (SeeNews) - Food processing company Bella Bulgaria said on Monday that it has acquired Hungarian peer Marathon Foods for 12 million levs ($6.9 million/6.1 million euro).
With this investment Bella Bulgaria targets active presence in food deliveries to the markets of Western Europe, which is in line with the company's capacity expansion plans, Bella Bulgaria said in a statement.
By acquiring Marathon Foods, Bella Bulgaria's partner network expands by including brands such as McDonald’s, BurgerKing, Aldi, FamilyFrost, O’Cool, Tesco, Iceland, Spar, Auchan.
The deal will also widen Bella Bulgaria's product portfolio, the company noted.
Earlier this year, Bella Bulgaria announced that it intends to invest 15 million levs in capacity expansion in 2019.
Bella Bulgaria has nine factories with a combined output of 350 tonnes of food per day. The company has affiliates in Romania and Greece and intends to set up one in Serbia this year, it said in February.
(1 euro = 1.95583 levs)