ROMANIA: Gusto corn puffs producer to invest 600,000 euros in bio variant | Progresiv

Phoenixy company, the largest producer of corn puffs in Romania, announces the launch on the local market of Gusto BIO corn puffs, an assortment that it already had in the portfolio for a year and a half, but was only marketed in Austria and Germany. The total investment in this project amounts to 600,000 euros.

Phoenixy is the first company that launches organic corn puffs in Romania, respecting the principles of sustainable agriculture. The launch is part of the investments planned by the company for the current year, aimed at launching new products in existing product categories under the Gusto umbrella brand. With this launch, the number of new products introduced by the company in its portfolio this year reaches 8.

Regarding the results for six months, Phoenixy reported a sales growth of 20%, the exports having a significant contribution.

Phoenixy is the local corn puffs market leader with a share of 70%, according to company statements. In the production unit in the city of Baicoi (Prahova county) are produced daily over a million bags of Gusto branded corn puffs. Products are exported to 20 European markets, but also in the United States. The company ended 2015 with a turnover of approximately 20 million euros and a profit of about 2 million euros.