“We have dedicated the last 30 years to dynamic growth, and today we begin a new phase, which means consolidating our position in the distribution market, in line with the vision of having an Aquila product distributed in every home,” Catalina Vasila, Aquila CEO, said in a press release.
Valued at up to 16.5 million euro ($17.7 million), the payment for the transaction was split into instalments, with 80% of the total amount being required upon deal closure and 10% after one and two years, respectively, Aquila said in January.
The Parmafood companies have been active for three decades, handling distribution activities in the hotels, restaurants and catering (HoReCa) sector, as well as modern and traditional retail channels, operating logistics warehouses equipped with integrated stock management systems. In 2023, the two companies booked a combined net profit of 16.6 million lei ($3.6 million/3.3 million euro) as their combined turnover rose 13% year-on-year to 277.5 million lei, as per the press release.
In February, Aquila finalised the 3.2 million euro takeover of local car aerosols producer Romtec. The deal marked the buyer’s first acquisition since its listing on the Bucharest Stock Exchange in 2021.
Ploiesti-based Aquila booked a record profit of 97 million lei in 2023 after its revenues rose 14% year-on-year to 2.5 billion lei. The company intends to invest 16.9 million euro in the renewal of its fleet and warehouse equipment, it said earlier this month. The 2024 budget is subject to shareholder approval on April 29.
Aquila operates in Romania and the Republic of Moldova, offering integrated services in distribution, logistics, and transport. It sells consumer goods in over 72,000 points of sale across all FMCG retail channels, covering 90% of the market.
Aquila's shares changed hands 0.42% higher at 1.19 lei as at 1533 CET on Friday on the Bucharest Stock Exchange.
