AQUILA signs agreement to acquire KITAX Kft in Hungary, its third transaction of 2024, strengthening regional expansion and reaffirming ambitious growth vision

AQUILA (symbol AQ), the market leader in integrated distribution and logistics services for consumer goods in Romania and the Republic of Moldova, announces the completion of an agreement to acquire 100% of the shares of KITAX Kft, one of the top five distribution companies in its sector, with nationwide coverage in Hungary.

The transaction price is a maximum of EUR 14 million and is calculated based on a mechanism agreed upon by the parties, considering working capital adjustments and net debt. The acquisition is subject to the approval of the Hungarian authorities for transaction clearance, including the Foreign Direct Investment (FDI) and the General Shareholders' Meeting of AQUILA.

KITAX Kft, 22 years of operations and nationwide coverage in Hungary

KITAX Kft reported revenues of EUR 10 million and an EBITDA of EUR 2.1 million in 2023. Founded in 2002 by Ida and Ștefan Ozsvald, Kitax KfT distributes professional hygiene and cleaning products, consumables for the HoReCa sector, and health and safety equipment. The company has a diversified portfolio includes over 10,000 products from over 400 top global suppliers, such as Kimberly Clark, Essity (Tork), Vileda Professional, and Karcher. KITAX Kft serves clients in key sectors such as industry, HoReCa, retail, education, healthcare, and facility management.

The company’s logistics infrastructure is modern, including its fleet and a 3,000 m² warehouse in Mosonmagyaróvár, where 70% of the energy used is green.

Cătălin Vasile, CEO AQUILA:

"This acquisition complements AQUILA's strategy of integrating new business lines with immediate development and attractive profit margins. By acquiring KITAX Kft, we will become an active player in the Hungarian market, adding a complementary portfolio of products to our current business. This move brings us closer to our regional development ambitions following the success achieved in Moldova with the acquisition of Trigor AVD. We continue to develop AQUILA alongside a professional team that has built and developed a strong European company.

We have confidence in the KITAX team, with whom we will strengthen existing partnerships with suppliers and clients.

This new transaction aligns with our commitment to double EBITDA value by 2026."

Ida Ozsvald and Ștefan Ozsvald, owners of KITAX Kft

"The decision to join AQUILA, one of the market leaders in distribution and logistics in Romania, opens new horizons for the growth of our company. Our over 20 years of experience in Hungary's hygiene product distribution sector, supported by AQUILA’s expertise and strength, creates a solid foundation for developing new growth opportunities with our business partners."