ROMANIA: Sigma Alimentos acquires complete ownership of Caroli Foods Group | Progresiv
Caroli Foods Group, Romania’s leading producer of packaged meat products, is now an integral part of Sigma Alimentos (“Sigma”) following the Mexican company’s latest purchase of 51% of Caroli’s share in addition to the 49% it owned through the Campofrio Food Group. 
The transaction is the latest evolution in Caroli’s 23 years of continuous growth. Established in Bucharest in 1994, the company expanded across market segments and territories, building a comprehensive portfolio of successful brands such as Caroli, Campofrio, Sissi, Maestro and Primo. Caroli Group grew from a family-operated company to one of the largest employers of the industry, employing over 1,200 people, having its factory in Pitești and a strong distribution network with a net sales exceeding 100 Million EUR in 2016 whereas the net rev is of 88 million Euros.
Building over the years, Caroli Foods Group consolidates the national leadership position in its segment in Romania, reaching a value market share in modern trade of 17% from the total packaged modern trade market (based on the Nielsen report Jan-July 2017). The current transaction does not imply any major management changes, with Khaled El Solh staying as Caroli Foods Group CEO, along with his management team.
“We see the transaction as further proof of the value and results of the Caroli Foods group and our Brands that we have been building over the year together with our partners, to respond to our customers’ needs for the last quarter of a century” Mr. El Solh stated. “It is also a major step on the Caroli Foods Group journey - Sigma’s knowledge and experience with global operations and expansive product range will help us further to develop our brands and categories in new and exciting ways, while maintaining the core values of what makes Caroli Foods Group great”, he added.
The 2010 joint venture between Caroli Foods Group and Campofrio Food Group saw Campofrio offering support and expertise for Caroli’s expansion in exchange for 49% of its shares. In 2014, following Sigma’s expansion in Europe through its acquisition of Campofrio, Sigma also became a minority shareholder in the Romanian company.
Sigma is one of the leading global players in the refrigerated food industry, with 69 production facilities in 18 countries, more than 44000 employees and revenues of USD 5.7 billion. Its product portfolio includes cooked and cured meats, cheese, yogurt and other refrigerated and frozen foods.
In this regard, Mario Páez, Sigma CEO, said: "This acquisition allows us to continue with our growth strategy in the highly attractive region of Eastern Europe"
The Campofrio Food Group company (now completely owned by Sigma) operates 25 factories with almost 7000 employees in the continent, with the European share of revenues coming in at over 1.9 Billion Euros.
Caroli Foods Group is now the leader in the Romanian packaging meat products, both in value and in volume and one of the most successful food meat producer in the South-East Europe.
Sigma is a leading multinational company in the refrigerated food industry, focused on the production, marketing and distribution of quality branded foods, including cooked and cured meats, cheese, yogurt and other refrigerated and frozen foods. Sigma has a diversified portfolio of leading brands, 69 plants and operates in 18 countries across its four key regions: Mexico, Europe, the United States, and Latin America.
