Major Romanian poultry producer Aaylex takes over rival from Brazilian multinational
Romanian poultry producer Aaylex, which operates under the CocoRico brand, completed the acquisition of the local operations of Turkish group Banvit, part of the Brazilian group BRF - the third-biggest poultry producer in the world.
The value of the deal was EUR 20.3 mln, according to local law firm Tuca Zbarcea & Asociatii, which assisted BRF in the sale, Profit.ro reported.
The local subsidiary of Banvit Foods, which was the subject of the takeover, had an annual turnover of EUR 34.4 mln, EUR 2.34 mln net profit, and employed 153 in 2019. On the market since 2004, Banvit Foods (RO) is also involved in animal feed and egg production activities.
The Aaylex Group is controlled by Romanian businessman Bogdan Stanca and has in its portfolio Avicola Buzau, Aaylex Prod, and Aaylex Distribution, as well as the CocoRico brand.
Aaylex has 24 farms in Buzau, Braila, Calarasi, Galati, Giurgiu and Prahova. In addition, the company has two incubation stations, two adult breeding farms, and two youth breeding farms.
In 2020, the consolidated turnover of the AAylex group was RON 651 mln (EUR 137 mln), and the company employed over 2,000.
In 2018, the Aaylex group attracted EUR 25 mln financing through a corporate bond issue, subscribed by Credit Value Investments, an investment fund registered in Poland.
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