AQUILA finalizes its second transaction from 2024 by acquiring Parmafood

AQUILA (symbol AQ), the market leader in the field of integrated distribution and logistics services for consumer goods in Romania and the Republic of Moldova, with 30 years of experience in this industry, finalized the transaction for the acquisition of 100% of Parmafood Trading SRL and Parmafood Group Distribution SRL shares, following the fulfillment of all suspensive conditions stipulated in the contract.

Cătălin Vasile, CEO AQUILA:

"We are completing the second transaction of this year. The acquisition of the two Parmafood companies marks another significant milestone in AQUILA's announced evolution and represents a concrete step in our growth strategy with a direct impact on the HoReCa market. We will continue the development of the business together with a team that enjoys recognition and trust from business partners and has grown respecting the standards we are accustomed to at AQUILA. We have dedicated the last 30 years to dynamic growth, and today we begin a new phase, which means consolidating our position in the distribution market, in line with the vision of having an AQUILA product distributed in every home."

Eugen Savu, majority shareholder and CEO, Parmafood:

"We are delighted that we became part of the AQUILA family, and we will continue to grow together. Our experience in this market sector, combined with AQUILA's commercial strength, are the perfect ingredients for developing the business. With a common vision and our commitment to excellence, we are ready to explore new opportunities together for our partners and customers."

The Parmafood companies have a combined history of three decades, with a significant presence in distribution activities across HoReCa, Modern Retail, and Traditional Retail channels, and operate logistics warehouses equipped with integrated stock management systems. Parmafood Group Distribution SRL and Parmafood Trading SRL reported a combined turnover of RON 277.5 million in 2023 (+13% compared to 2022) and a combined net profit of RON 16.6 million.

AQUILA ended the year 2023 with revenues of RON 2.5 billion (+14% compared to 2022) and a net profit of RON 97 million, the highest in the history of the company. The results were primarily supported by the distribution segment, which represents approximately 94% of the company's turnover.