Mexican company Sigma Alimentos has acquired 51% of the shares of Caroli Foods Group, a packaged meats product company in Romania. Sigma already owned 49% of Caroli through Campofrio Food Group.

No major management changes will take place with the transaction, and Khaled El Solh will stay on as Caroli Foods Group CEO, along with his management team, the company said.

Caroli Foods was established in Bucharest in 1994. It owns brands such as Caroli, Campofrio, Sissi, Maestro and Primo. It has its own factory in Pitesti, and employs over 1,200 people. The company’s net sales in 2016 exceeded EUR 100 million.

Caroli Foods Group and Campofrio Food Group entered a joint venture in 2010. In 2014, following Sigma’s expansion in Europe through its acquisition of Campofrio, Sigma also became a minority shareholder in the Romanian company. With the new acquisition, Sigma says it plans to continue its growth strategy in Eastern Europe.

Sigma is a global player in the refrigerated food industry, with 69 production facilities in 18 countries, more than 44,000 employees and revenues of USD 5.7 billion. Its product portfolio includes cooked and cured meats, cheese, yogurt and other refrigerated and frozen foods.

“It is a major step on the Caroli Foods Group journey - Sigma’s knowledge and experience with global operations and expansive product range will help us further develop our brands and categories in new and exciting ways, while maintaining the core values of what makes Caroli Foods Group great”, said Khaled El Solh (pictured).

editor@romania-insider.com