Orbico's owner Branko Roglić has become the majority owner of Interbrands, Romania's largest consumer goods distributor.
As Novac/Adriano Milovan writes on the 8th of July, 2019, as they have explained from Orbico, after having agreed with Cyprus' Holson and taken over 25 percent of Interbrand back in January, at the end of last week, on July the 4th, the second phase of the takeover of this large Romanian distributor was completed, during which Croatia's Orbico purchased an additional 35 percent of the company, thus becoming the majority owner of Interbrands.
The takeover of an additional stake in Interbrands was preceded by the approval of the competent body and the fulfillment of other sales contract terms, which were signed back in January, according to this company from Croatia's statement. In the take over of sixty percent of Interbrands, we know that Orbico had to set aside about forty million euros.
''We will restructure the company and strengthen its position on the Romanian market, which is the second largest market among the new EU members,'' Branko Roglić, the owner and chairman of the Orbico Supervisory Board stated.
Roglić pointed out that he is satisfied with taking over Interbrands, as Orbico has now become the leading distributor of consumer goods in Romania. Interbrands is one of Orbica's leading distributors of numerous global brands in Romania, including Philip Morris International, British American Tobacco, Procter & Gamble, Coty, Danone, Duracell, Fater, Nestle and many others. The annual revenues of Interbrands amount to about 200 million euro, its EBITDA is around EUR 10 million, and according to Orbico's data, about 2,000 workers are employed there.
This company from Croatia would, in agreement with the former owner of Interbrands, take over the remaining forty percent of the company over the next three years, becoming the sole owner of the Romanian company. Until then, a minority partner will hold a minority stake of forty percent.
Orbico operates in twenty European countries, of which Poland and Romania now occupy an important place. According to the company's data, it employs some 8,000 people and earns about two billion euros in revenue. The goal of Croatia's Orbico is to become the leading distributor in Europe.
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