Croatian waste management group C.I.O.S. unit acquires peer Reoma

Details about the transaction will be announced after the completion of all internal activities related to it, C.I.O.S. said in a statement to SeeNews.

The competition authority, AZTN, announced on December 19 a decision to allow a proposed market concentration between Eko-Flor Plus and Reoma.

Eko-Flor Plus claims to be the biggest privately held company in Croatia for collection of municipal and industrial non-hazardous waste. It was acquired by C.I.O.S. in 2013.

Reoma Grupa was set up in 2012 by three individuals, according to data from the court registry. It is primarily focused on the management of paper and cardboard waste.

Reoma reported a revenue of 19.8 million euro ($21.3 million) in 2022, almost unchanged compared to 2021, according to data by Finance Analytics - Dun & Bradstreet consultancy. In 2022, it had a net profit of 1.8 million euro.

($ = 0.929 euro)