American marketing and merchandising company Spar Inc has taken over Romanian trade marketing and sales company Bip Grup, the Romanian firm has announced. The American company took over 50 percent of the shares from British investment fund IMSG and one percent from Romania owner Saulea Eugen, who now controls 49 percent in the company.

Bip Grup, set up in 2004, posted a turnover of EUR 3.8 million in 2011 from trade marketing and sales services. British investment fund IMSG bought into the company in 2007 for some USD 3.3 million. The value of the exit deal was not announced.

editor@romania-insider.com

(photo source: Spar Inc's Facebook profile)