Romanian group Annabella, best known for the largest independent supermarket chain on the market and for its preserves factory Raureni, received the green light from the competition body for taking over Fabka Group - which comprises a preserves factory in the south-eastern part of the country (Baragan) and several farms in the same region, according to Profit.ro.

Fabka Group was founded in 1968, în Fetești (Ialomița County), and is active in the field of processing and preserving fruits and vegetables. Its factory is located in Fetești on a 20-ha property that hosts about 40,000 square meters of buildings as well as 13 farms totalling 120,000 square meters of agricultural land.

Today, Fabka is owned by the Lebanese entrepreneur Serge Karam Bou and the company Pioniconstruct from Vâlcea, controlled by local businessman Ionică Popescu. Last year, Fabka reported a RON 22.6 mln (EUR 4.5 mln) turnover and a slim but positive profit of RON 98,428, with over 130 employees.

Annabella group is controlled by Dorina and Dan-Constantin Mutu.

editor@romania-insider.com

(Photo source: Anabella Facebook page)