ROMANIA: Caroli cold cuts producer reported 7% business growth in 2016 | Progresiv

Caroli Foods Group, one of the main cold cuts producers on the Romanian market, reported a turnover of 429 million lei last year, about 7% more than the previous year, when the company's revenues amounted to 400 million lei, according to the data published on the website of the Ministry of Finance.

As for profit, the producer reported a result of 15.7 million lei, up 20% compared to 2015.

In recent years, Caroli has made more investments, launching innovative products on the market, including wiener sausages with 80% meat. "We influenced the entire category, and just two months after the launch of 80% meat wiener sausages, we became a market leader in the category," the company's representatives said last year.

Also, in the first half of last year, Caroli completed investments of about 3 million euros, "the investments being motivated by the development of the logistics network and the modernization of the Pitesti factory by introducing new and modern production technologies", according to statements by Khaled el Solh, CEO of Caroli Foods Group.

Caroli Foods is owned by the Lebanese family El Solh (51%) and Campofrio (49%), and the main brands in the portfolio are Campofrio, Maestro and Sissi. The main competitors of Caroli on the Romanian market are Cris-Tim, Aldis, Salbac or Meda Prod.