Iranian investors buy 2 mineral water producers in Romania

MNB

Photo by Shark_749/Shutterstock.com

Romanian spirits producer Prodal 94, whose portfolio includes the Stalinskaya (vodka) and Wembley (gin) brands, will take over the local mineral water producers Lipomin and Carpatina, local Business Magazin reported as cited by news site romania-insider.com. The transaction has already received the approval of the Competition Council.

Photo by Shark_749/Shutterstock.com

Prodal 94 is controlled by two businessmen of Iranian origin, Jabbar Kanani and Bagher Karimzadeh. Kanani also controls Agricover, one of the biggest agri-business groups in Romania.

Lipomin and Carpatina are controlled by investment fund Accession II Romania Limited. The two companies produce sparkling and still mineral water under the brands Lipova and Carpatina, and had a combined turnover of RON 30.8 million (EUR 6.5 mln) and 76 employees in 2018, according to data from the Finance Ministry.

Both companies recorded losses in 2018 and have gone through insolvency in the past romania-insider.com said.

ADVERTISEMENT

Czech economic confidence weakens in September Analysis

Czech economic confidence weakens in September

Parl't extends pandemic legal provisions Parliament

Parl't extends pandemic legal provisions

Energy Efficiency: End-users, Energy Traders and Other Stake... Inside View

Energy Efficiency: End-users, Energy Traders and Other Stake...

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.