Sigma acquires Romanian food company Caroli
Mexican refrigerated food company Sigma Alimentos’ subsidiary has acquired a 51% stake in Romania-based packaged meats and ready-to-eat (RTE) meals provider Caroli Foods Group.
Already owning a 49% stake in Caroli, the latest acquisition will see Sigma own 100% of the company.
Sigma CEO Mario Páez said: “This acquisition allows us to continue with our growth strategy in the highly attractive region of Eastern Europe.”
For more than two decades, Caroli has been producing more than 200 packaged meat products in Romania under local brands such as Caroli, Sissi, Campofrio and Primo.
Caroli carries out production operations from its plant in Pitesti and has more than 1,200 employees.
Last year, the company is reported to have generated sales equivalent to €88m.
Sigma Europe CEO Ricardo Doehner said: "We are determined to combine the best of Sigma with Caroli in order to continue delivering superior value to the Romanian consumers."
Sigma has been focused on the production, marketing and distribution of refrigerated branded food products, which include cooked and cured meats, cheese and yoghurt, as well as frozen foods and beverages.
Certain brands offered by Sigma are reported to have been in the market for more than 70 years.
Sigma currently has 69 plants and operates in 18 countries across the US, Europe, Mexico and Latin America.