Romanian company Phoenixy, which produces corn direct expanded snacks under the Gusto brand, boosted its sales by 17% to EUR 26 million in 2018. The expansion was driven by exports and by the development of new products.

"2018 was a good year for our company, but quite difficult as the rhythm was swift. In brief, we concluded new contracts, developed new technologies and products for new sales channels, we met new retail partners on three continents, and we increased our business by 17% compared to 2017," said Eliodor Apostolescu, the general manager of the company that owns a production unit in Prahova, local Ziarul Financiar reported.

The company exports about 50% of its production, a share that has increased in recent years. According to the latest data, the Romanian brand Gusto is present in more than 20 countries, and the company keeps expanding.

"We want to continue the expansion of our company this year, and we will enter new markets, we will focus our efforts on consolidating the Gusto brand in all European countries," added Eliodor Apostolescu, who is also a shareholder of the company along with Cătălin Nour. The two set up Phoenixy in the early 1990s.

editor@romania-insider.com

(Photo source: Facebook/PufuletiiGusto)