The results of the €2 million investment will begin to show in this year’s second half, said Raul Ciurtin, Albalact’s Chairman.
“We acquired Raraul and entered the cheese market, of which we want to have a 40 percent share in terms of value. We are presently modernizing and expanding Raraul’s production capacity,” Ciurtin told Business Standard.
In December 2008, Albalact acquired a 77.23 percent share package of Raraul Campulung Moldovenesc, for €3.5 mln, from 88 shareholders. The transaction was financed through a loan from Banca Comerciala Romana (BCR).
The value of the local dairy market amounts to an approximate €1 billion, with main players Friesland, Albalact, Danone, LaDorna, and Tnuva.
