July 8 (SeeNews) - Croatian consumer goods distributor Orbico Grupa is acquiring a 60% stake in Romania's Interbrands Marketing&Distribution, which is distributing the products of Phillip Morris, BAT, Danone, Nestle and Duracell, among others, Croatian media reported on Monday.
Orbico has signed a purchase agreement with Cyprus-based firm Holson and the local regulators now approved the acquisition, news daily Jutarni List reported.
You can subscribe to our M&A newsletter here
According to the report, Orbico will take over the remaining 40% of Interbrands in the next three years.
The acquisition will strengthen Orbico's position on the consumer goods distribution market with the company already active on 20 markets, including Poland, Romania, the Czech Republic, Slovakia, Hungary, all former Yugoslavia states, Albania, Bulgaria, Moldova, Ukraine, Belarus, Russia, as well as Germany and Austria.
Jutarnji List reported that Orbico's 2018 revenue exceeded 2.0 billion euro ($2.24 billion), with the group employing some 8,000 people.
Interbrands' revenue last year stood at 200 million euro, while its employees total 2,000, the report said.
Orbico Group, owned by Croatian businessman Branko Roglic, is a leading distributor for a large number of global brands ranging from beauty care products through food and non food products, technical and electrical appliances to pharmaceuticals, toys, textile, cigarettes as well as motor oil products. Some of the most renown brands it distributes include Pringles, Heineken, Red Bull, Lavazza, Raid, Arial and Pampers, among others.
($=0.8912 euro)
Interbrands Marketing & Distribution SRL is among the biggest companies in SEE. You can download our SEE Top 100 ranking
here or subscribe to our free Top 100 newsletter
here