Danish group Givesco took over the entire Romanian milling and bakery group Sam Mills, where it had held a 50% stake since 2017, Profit.ro reported.

The Romanian company was set up in 1994 by local businessman Ioan Arcadie Bercean.

The 50% stake taken over by Givesco in 2017 was estimated at RON 200 million (EUR 44 mln).

Sam Mills has been on the market since 1994, becoming the leader of the corn milling market in Romania and having in its portfolio, among others, the Tortilla Chips and Pasta d'oro brands. The company also owns several poultry farms. In 2017, Bercean brought together ten companies in a holding structure, thus setting up the Sam Mills Business Investment Holding group, before selling a 50% stake.

Givesco is a holding company, producer of bakery, chocolate, and confectionery. The company was established in 1980 and is based in Denmark. Today it has over 30 production units and annual sales of about USD 300 mln.

(Photo: Pixabay)

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