Romanian distressed assets investment platform ROCA took over an unspecified stake in fish farm Piscicola, in northwestern Romania, following a EUR 600,000 investment. The transaction approaches completion.
Piscicola, located in Adrian village in Satu Mare county, operates a 311-hectare fish farm. In 2018, the company reported RON 1.1 million (EUR 240,000) revenues and RON 573.546 (EUR 120,000) losses.
The company has five shareholders, the biggest of which is Ioan Ghere, with a 44.3% stake.
In Romania, the per capita fish consumption is only a quarter of the European average, and over 80% of the fish consumed in the country comes from imports.
ROCA Investments, part of Impetum Group, recorded a rate of return on investments of 57% in 2019. Its valuation at the end of the year was 74% higher than at the time it was set up in 2018, according to the valuation report prepared by the ANEVAR certified independent firm Veridio.
The investment fund is currently negotiating four to five new projects, one of which is in the final stage, said Rudolf Vizental, CEO ROCA Investments. ROCA has set a target of ten deals for the whole year.
(Photo source: Pexels.com)
Romanian distressed assets management platform ROCA, which invests in troubled companies with potential, has agreed to a...