Golden Food Snacks, controlled by Greek businessman Konstantinos Mitzalis, announced it completed the takeover of Derpan – a local bakery specializing in the production of packaged pastry set up by local entrepreneurs near Galati, in 2001. 

The deal was cleared by the Romanian Competition Council in 2022, Profit.ro reported.

A major FMCG supplier, Golden Food Snacks processes fruits, vegetables, nuts, peanuts, seeds, and dried fruits at its factory in Filipestii de Padure (Ploiesti County), sold under its Elmas brand and private label.

Konstantinos Mitzalis was active in the Romanian market before establishing Golden Foods Snacks and taking over the Elmas brand in 2009. Previously, he developed the Tasty Foods and Star Foods brands, which he sold to PepsiCo.

In 2022, Golden Food Snacks reached a partnership with PepsiCo for the distribution of its products in Romania. Its turnover hit EUR 12.6 million in 2022, 67% up y/y. 

Derpan’s turnover reached EUR 10.2 million in 2022 – but this includes other non-core businesses not subject to the takeover.

iulian@romania-insider.com

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