Romania: plant-based meat producer prepares for growth
Verdino Green Foods, a Romanian producer of meat alternative products using pea protein, is selling a minority stake to private equity firm BlackPeak Capital via BlackPeak Southeast Europe Growth Equity Fund.
The capital inflow will allow the company to speed up growth, develop its business and expand abroad, its officials said.
“We welcome BlackPeak as our new partner and are glad to join forces to take Verdino to the next level, which is a global presence,” said Raul Ciurtin, Verdino co-founder.
In its two years in business, Verdino has developed more than 60 products available in more than 2,000 stores in Romania, Switzerland, Netherlands, Spain, North Macedonia, Serbia and the United Kingdom.
Verdino officials say they expect the company’s sales to reach EUR100 million in the next five years.
The company was established by Raul Ciurtin, former Albalact Dairy shareholder and owner of Prefera Foods, one of the most important actors on the canned foods market in Romania, and Eberhardt Raducanu, who is now Verdino’s CEO.
BlackPeak Capital was established in 2014 and makes EUR5 million to EUR10 million investments in the fastest growing small and medium-sized businesses in Romania, Bulgaria, Slovenia, Croatia and Serbia.
Source: www.ZFEnglish.com