ROMANIA: Dan Minulescu increases his stake in La Lorraine Romania | Progresiv
Businessman Dan Minulescu, owner of Macromex, indirectly increases his stake in the company La Lorraine Romania, market leader in the frozen confectionery industry. By taking over the shares held by Cypriot Strapfield Limited by M Bakeries (a company also controlled by Macromex), the businessman reaches 50% of the shares in the company La Lorraine Romania. 
"The need for financing, both from own capital or of shareholders’, as well as from the banks, express the need for a strong ownership. Macromex Holding, the main shareholder of Macromex, also becomes indirect shareholder in La Lorraine Romania through M Bakeries, a company that will hold this participation, as well as the potentioal for other investments that we evaluate, together with our partners in Romania or in the region in the same field. This common ownership allows an increased financial solidity through mitigation of risk between the two fields, particularly in regard with the financing banks", said for Progresiv Dan Minulescu, CEO and founder Macromex.
Currently, Macromex holds only 1% of the capital of La Lorraine SRL and will remain with this portfolio of shares. Instead, the Cypriot Strapfield Limited company's portfolio, of 49%, will be transferred to the M. Bakeries, also controlled by Macromex.
Following this operation, Strapfield will exit La Lorraine SRL ownership and Macromex will directly and indirectly control 50% of the shares. The Belgians from La Lorraine Bakery Group will continue holding the remaining shares.
La Lorraine Romania is a joint venture between Macromex and Belgian manufacturer of bakery and confectionery product, La Lorraine Bakery Group, the factory owned by the company being inaugurated in 2011 in Campia Turzii. In 2015 was started a major investment program to expand the factory and installation of three new production lines. Thus, of the 40 million budgeted, last year was completed the first phase of 15 million euros and until the end of this year the pastry line will be functional, the result of an additional investment of about 12 million euros. According to the latest financial reports, La Lorraine Romania concluded financial year 2015 with sales of about 70 million lei, up by 30% compared to 2014.
The Belgian group La Lorraine Bakery owns 12 factories in Europe and is selling bakery products in 25 countries.
