November 5 (SeeNews) - Bulgaria-based private equity firm BlackPeak Capital, through BlackPeak Southeast Europe Growth Equity Fund, bought a minority stake in Romanian plant-based meat alternatives company Verdino Green Foods, Verdino said.
The capital provided is to enable Verdino to accelerate its growth and support international expansion, the Romanina company said in a press release.
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The Romanian company’s target is to increase its sales to 100 million euro ($115.7 million) in the following five years, it added.
"This represents a great recognition for all the accomplishments of Verdino so far and, more importantly, will accelerate the new chapter of Verdino growth, both in CEE [Central and Eastern Europe] and globally,” Eberhart Raducanu, Verdino co-founder and CEO, said.
Established in 2014, BlackPeak Capital targets growth equity investments of 5-10 million euro in the fastest growing SMEs in Romania, Bulgaria, Slovenia, Croatia, and Serbia. The company operates from four regional offices in Sofia, Bucharest, Ljubljana, and Vienna.
The Verdino product range includes burgers, cevapcici, mince, cold cuts, sausages, salami, hot-dogs, coconut oil cheeses, pizzas and plant-based specialties such as mortadella with pistachio, pepperoni and bacon.
($ = 0.8645 euro)