“Our initial plans were to build another new factory for the production of cheeses. But the Oiejdea greenfield project, which took a great deal of time, exceeded the initial investment budget, and required major operational costs for the starting of a factory, we decided that the best and wisest strategy for producing cheeses and expanding on the market is a local acquisition,” said Raul Ciurtan, President of Albalact.
Albalact officials indicated they chose Raraul because it is a company with traditional on the Romanian market.
The domestic dairy market is estimated to be worth €1 billion this year, with main producers Danone, Friesland group, Albalact, Brailact and Covalact. Raraul is one of the main domestic producers of cheeses, butter, buttermilk and powdered milk, and has been in the attention of several foreign investors for some time. It is also one of the few Romanian producers authorized to sell its products on European Union markets.
Raraul’s turnover in 2007 amounted to €4.8 million and net profit of €132,833. Albalact, whose principal shareholders are Petru and Raul Ciurtin and the RC2 investment fund, reported turnover last year worth €42.3 million, and a net profit of €914,000.
