Romanian canned food producer Scandia Food close to another takeover

Carniprod Tulcea, one of the largest Romanian meat processors controlled by entrepreneur Nicolae Ciuleac, with a turnover of RON 68 mln (EUR 14 mln) last year, is close to being fully acquired by Scandia Food – the leader of the canned meat-based market that bought the meat processor Agra's from Alba Iulia at the end of 2021.

The entrepreneurs behind Carniprod say financial difficulties are forcing them to sell, a pattern likely to replicate in the food industry as the demand is under pressure.

"Expenses are still high, production has decreased. Together with the other associates, we decided to sell," said Nicolae Ciuleac, general director of Carniprod.

"We are in advanced discussions with a view to the acquisition of the Carniprod Tulcea company, however, at this moment, the data is being analyzed by the Competition Council. As soon as we can provide more details, we will return with information", Andrei Ursulescu, general director of Scandia Food, told Ziarul Financiar.

(Photo source: Facebook/Scandia Food)