The Caroli Food group, one of the top three charcuterie producers in Romania, in the first six months of this year witnessed sales growth by over 50%, both in terms of volume and value, compared with the same period of last year. For this year, the company forecasts turnover standing at 93 million euros if it maintains the same growth pace until the end of the year.
"The projected turnover stands at 93 million euros for the entire Caroli Foods group this year, which would account for an advance by 50% year-on-year," stated Talal El Solh, chairman of Caroli Foods.
The Caroli Foods chairman specified that first-half figures were made possible by new products, as well as by the national campaign for the Caroli range.
"The increase was generated by the launch of 20 new products under Caroli, Gourmet and Primo brands, as well as the development of a national promotional campaign for the Caroli range. The optimisation of the distribution network was also a driving force behind growth," El Solh also said.
In March, Caroli acquired the Cluj-based Maestro Industries, one of the most important meat processors in Ardeal. The business was developed by two businessmen from Cluj, Dorel Goia and Horia Ciorcila.
"We are still planning the integration of Maestro Industries into the group, as we have yet to receive approval from the Competition Council," said El Solh.
According to the Caroli Foods chairman, last year the Cluj-based company registered turnover worth around 10 million dollars (8.4 million euros). Maestro Industries, set up in 1994, owns a meat processing plant in Cluj and a network of stores in Cluj and Bistrita, employing approximately 200 people. In 2004, Maestro Industries posted turnover worth 5.6 million euros (22 million RON) amid income estimated at around 1.4 million euros, according to data published on the Finance Ministry's website.
The acquisition of Maestro follows the takeover of the Gourmet brand in December 2003, intended to expand the product portfolio of Caroli. Caroli Foods owns the following brands: Caroli (aimed at the average income people), Gourmet (intended for the upper-end of the market), Familia (developed for the lower-end market segment) and Primo, which include over 170 products, of which 20 were launched this year. According to the company's representatives, the Caroli brand generates between 70 and 80% of annual sales.
Last year, Caroli became the Caroli Foods group, including Caroli company (focused on distribution), T.C. Affaires (centred on production) and INDCARF (the future plant manufacturing raw charcuterie).
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