AQUILA expands its regional presence with the acquisition of KITAX Kft in Hungary

AQUILA (symbol AQ), one of the largest players in the fast-moving consumer goods (FMCG) distribution sector from Romania and the region, with 30 years of experience in this industry, completed the acquisition of KITAX Kft, one of the top five distribution companies in its field, with nationwide coverage in Hungary. The transaction, with a final price calculated based on a mechanism agreed by the parties, which took into account working capital adjustments and net financial debt, represents a strategic step in AQUILA's regional expansion and was finalized following the fulfillment of all suspensive conditions stipulated in the contract.

Cătălin Vasile, CEO, AQUILA:

"We continue our regional expansion with the acquisition of KITAX, a strategic step that marks AQUILA’s entry into a second foreign market, following our success in the Republic of Moldova. Over the past year, we have completed the acquisition of four companies, accelerating the growth and diversification of our operations while strengthening our position in the markets we operate. We are pleased to welcome KITAX into the AQUILA family and to collaborate with the company’s founders, Ida and Ștefan Ozsvald, who will remain involved to support a smooth transition and the consolidation of the business in the Hungarian market. KITAX is a strong business with a modern logistics infrastructure and a diversified product portfolio, which will allow us to leverage synergies and accelerate regional growth."

Ida Ozsvald and Ștefan Ozsvald, owners, KITAX Kft:

"We are proud of what we have built at KITAX in more than 22 years of activity, becoming a key player in the distribution market of professional products for hygiene and cleaning, HoReCa consumables, and health and workplace safety equipment in Hungary. We believe that AQUILA, with its vision for regional expansion and strong industry experience, is the ideal partner to take the company to the next level. We will continue to be actively involved in the development of the business in the period ahead in order to ensure continuity and long-term growth."

The preliminary agreement for the acquisition of KITAX was signed in December 2024 and was subject to the approval of AQUILA's General Meeting of Shareholders from January 21, 2025, as well as of the Committee for the Examination of Foreign Direct Investments in the neighboring country.

KITAX Kft is a distribution company with nationwide coverage in Hungary, with over 22 years of experience, offering a diversified portfolio of professional products for hygiene and cleaning, HoReCa consumables, and health and workplace safety equipment. The company serves clients in key sectors such as industry, retail, education, healthcare, and facility management. KITAX collaborates with over 400 top global suppliers, including Kimberly-Clark, Essity (Tork), Vileda Professional, and Karcher. In 2023, the company recorded revenues of EUR 10 million and an EBITDA of EUR 2.1 million.

The company's logistics infrastructure is modern and includes its own fleet and a 3,000 sqm warehouse in Mosonmagyaróvár, where 70% of the energy used comes from green energy.