AQUILA, a Romanian distribution and logistics company for the consumer goods market, has entered into a preliminary agreement for the full takeover of Parmafood Trading and Parmafood Group Distribution, for a maximum price of EUR 16.5 million.
“In line with the business development strategy announced with the listing on the Bucharest Stock Exchange, we are continuing with company acquisitions and maintaining the approach from a broader market and profitability perspective of the target company. At the same time, the acquisition will allow us to expand and strengthen our presence in all distribution channels with products complementary to our business and represents another step in the consolidation of the business. The completion of the acquisition of Parmafood companies will allow us to broaden AQUILA’s portfolio with new international and local partners, continuing to offer consumers diversified and high quality products,” said Cătălin Vasile, CEO AQUILA.
Debts will be deducted from the total agreed price and the amount will be paid from own sources. The price will be paid in 3 instalments, of which 80 percent upon completion of the transaction and 10 percent after 1 and 2 years respectively.
