Austrian-based company Leipnik Lundenburger Invest (LLI), which acquired the milling and bakery producer Loulis Romania this year, in a transaction worth 55 million euros, is not ruling out the possibility of a new acquisition on the Romanian market, although the company's current priority is integrating the Romanian producer into the group's international network.
"For the time being, we want to integrate Titan into the LLI Euromills group. However, in the future we are considering another acquisition," said representatives of the Raiffeisen group, which controls the LLI company.
Representatives of the Austrian group say they have received a large number of offers from milling and bakery producers in Romania, which are interested in being purchased.
"Many bakery plants are for sale in Romania. We are not interested in making an acquisition on the domestic market. On the contrary, companies are contacting us, asking us if we are interested in buying them," said Raiffeisen representatives.
At a European level, the Austrian group specialises in milling, with Titan (formerly Loulis) currently the only LLI-held branch on the bakery segment.
In fact, this is the reason why the bakery division could possibly be sold in the future. "Currently there aren't any talks regarding the sale of Titan's bakery division," said Raiffeisen representatives.
Austrian company Leipnik Lundenburger Invest acquired 60% of Loulis Romania in April this year, from the Greek group Loulis International Foods, in a transaction worth around 33.9 million euros.
Following this transaction, Loulis Greece was left with 26% in Loulis Romania. This year, Austrian-based LLI changed the company's name from Loulis to Titan (the company's former name).
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