Romanian croissants, biscuits and wafers producer Alka is investing RON 10 mln (EUR 2 mln) to boost its production, half of the money coming as state grant, Ziarul Financiar reported.

The company didn’t provide details of the project, which is “underway.”

The group owns two factories in Romania (Bucuresti and Ploiesti) and is selling its products locally as well as in more than 40 markets on five continents.

Alka, set up in 1994 by the Israeli family Krenzia, initially opened a coffee processing unit in Bucharest. Later, the portfolio expanded with other products such as pretzels or wafers. In 2019, it opened a EUR 11.5 mln factory in Ploiesti - a project also supported by a EUR 2.4 mln state grant. The company’s revenues are expected to rise by 12% to RON 260 mln (EUR 52 mln) this year. 

(Photo: Antonio Gravante | Dreamstime.com)

andrei@romania-insider.com