BUCHAREST (Romania), October 13 (SeeNews) - Romanian distributor of consumer goods Interbrands Orbico, part of Croatian group Orbico, said on Wednesday it targets a 1 billion euro ($1.16 billion) turnover on the local market.
"Orbico Group sales, so far, at European level, are about 3 billion euro, of which 800 million euro are generated by the Romanian market. Interbrands Orbico's goal is to exceed the 1 billion euro threshold in the next period," the company said in a press release.
Interbrands Orbico aims at three major development directions for the near future: the launch of the digital business-to-business platform, the automation of flows and logistics capabilities and the implementation of new business models related to conventional distribution, it added.
Starting this month, Interbrands Orbico becomes the most important player on the FMCG distribution market in Romania, after completing the merger with parent group Orbico. Thus, the company will bring customers an integrated portfolio of over 200 brands and 12,000 products in categories such as tobacco, perfumery, household, food and non-food.
Following the merger, Romania becomes the largest and one of the most important markets in the group, having the opportunity to capitalize on the synergies, investments and financial indicators resulting, both for the benefit of the company and its partners, according to the press release.
"The main benefits of the merger are the use of synergies to their full potential, in order to develop and improve services, modernize processes and systems, streamline logistics capacity and maximize the potential of distribution channels for all brands in the portfolio," Interbrands Orbico general manager Ioana Boghenco said.
In 2019, Orbico Group acquired a 60% stake in Interbrands Marketing & Distribution, with the possibility of taking over the remaining 40% in the following three years.
Interbrands was founded in 1993.
Orbico Group, owned by Croatian businessman Branko Roglic, is a 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. It distributes Pringles, Heineken, Red Bull, Lavazza, Raid, Arial and Pampers, among other brands.