Noriel group, controlled by three Romanian entrepreneurs, lastweek signed one of this year's most surprising deals. The toyproducer sold 40% of its business to Axxes Capital investment fund,represented by Horia Manda, one of the best-known investment fundmanagers, who sealed deals with giants such as General Electric orRaiffeisen. Mirela and George Constantinescu, engineers, had theidea of developing a toy business one afternoon when playingMonopoly and, fifteen years later, the business reached 12m-eurosales. Cristian, George's brother, is the one who got the Axxesfund in the business and handled the development of the retailunit. Noriel group, whose shareholder Axxes became in the wake of adeal put at 7m euros, includes Noriel Impex, Toy and GamesIndustry, Noriel Maxim and Intertoy Zone. Last year, the group ofcompanies employing 120 people reached 12m-euro turnover andtargets 15m-euro sales this year. "The company subsequently becamea toy distributor for other international brands, such as SpinnMaster or Mega Brands. We also got the Warner Bros licence underwhich we produce Tom and Jerry toys", specifies CristianConstantinescu. At present, 75% of the company's sales aregenerated by imported toys, while just 25% of revenues aregenerated by Noriel brand.
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