[ad_1]
BUCHAREST (Romania), September 8 (SeeNews) – Romanian spirits producer Alexandrion Group mentioned on Thursday it has acquired an extra 49% stake in Cyprus-based peer Cavaway, changing into the corporate’s sole proprietor.
The acquisition positions Alexandrion Group as one of many largest distributors of alcoholic drinks in Cyprus and strengthens its footprint within the wider area of the South-Jap Mediterranean Sea, it mentioned in a press launch.
You possibly can subscribe to our M&A publication right here
The deal additionally locations Alexandrion Group in a good place to extend its market share.
“The acquisition of Cavaway marks the popularity of the corporate’s success, but in addition the dedication of the Alexandrion Group to help it to have an much more aggressive progress,” Alexandrion Group chairman and founder Nawaf Salameh mentioned.
The worth of the transaction was not disclosed.
In 2019, Alexandrion Group took over 51% of Cavaway’s shares.
Alexandrion Grup was based in 1994 and has two manufacturing models in Romania – one in Radauti, Suceava county, and one in Ploiesti, Prahova county. It exports over 200 manufacturers in 30 international locations.
In 2017, the group mentioned it plans to speculate some $100 million (99.9 million euro) in a brand new distillery within the U.S. state of New York which can make whiskey, gin and rum in addition to typical American and Romanian merchandise.
($= 0.9998 euro)
[ad_2]
Source link
