Covalact, a leading Romanian dairy group, has seen US investment fund SigmaBleyzer buy a majority stake in the company.
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SigmaBleyzer has acquired a 70% stake in Covalact, described by a spokesman for the investment fund as one of Romania’s “top five” dairy producers.
“[The dairy sector] has shown a nice of amount of growth in the past several years and it is poised for constant growth, mainly because of EU expansion but also because of the rising GDP of the country,” the spokesman told just-food from SigmaBleyzer’s Texas HQ.
He added: “Our strategy is based around consumer goods and we plan to invest further capital to develop the company.”
The spokesman declined to reveal how much the private equity group paid for the stake in Covalact.

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By GlobalData