ROMANIA: Rio Mare brand producer opens subsidiary on the local market | Progresiv

Bolton Group, the producer of the Rio Mare brand, has recently opened a branch in Romania, a move that means Nordic Food, the producer's local partner over the last 10 years, has lost its distribution.

"We will use the expertise we have accumulated in these years of partnership and will generate new market leaders through other brands we distribute in Romania. We are pleased to have contributed to the growth of the brand on the Romanian market, Rio Mare being one of the major brands, always in the top of sales. But this is an action that we anticipated and prepared for", said Ciprian Moldoveanu, General Director of Nordic Food.

Bolton Group, based in Milan, owns Rio Mare and Palmera canned fish brands, as well as brands for personal care and home care products such as Neutro Roberts, Bilboa and Carolin, with operations in more than 139 countries.

In Romania, Bolton ensured its subsidiary with a starting capital of 500,000 lei, according to data published at the Trade Register.

According to the latest financial reports, Bolton Group reported a revenue of 1.96 billion euros in 2016 and a profit of over 210 million euros.