Albalact reported 452 Million lei turnover  for 2015

albalact-logoDairy producer Albalact reported for 2015 a turnover of 452 million lei, up 7% over 2014, according to preliminary financial report released by the company. The profit recorded instead a decrease of 100,000 lei from the previous year, the company last year reporting a net profit of 14.8 million lei.

In 2015, dairy producers had total debts worth 147.8 million lei less than in 2014. Of the total debt, loans represent almost 42 million lei.

Albalact, Ciurtin company controlled by the family, will be taken over by the French group Lactalis, the purchase price will be announced in the next period. For starters, Lactalis has contracted with vendors shareholders holding 70.3% of the aggregate capital of Albalact, namely: Raul Ciurtin, Lorena Beatrice Ciurtin, Crisware Holdings Limited, Croniar Holdings Limited (44.85%) and RC2 (Cyprus ) Limited (25.45%). Ciurtin indirectly holds shares Albalact by Crisware Holdings Limited Holdings Limited and Croniar.

The transaction will be completed most likely in the first half of this year, after the Competition Council will approve takeover by Lactalis Albalact.

Albalact holds two dairies – Albalact to Oiejdea and rare in Campulung – and a transport company – Logistic Albalact, and has over 900 employees. The company has a portfolio of over 150 products, marketed under its five brands: Zuzu, Fulga, Albalact, rare and Flower Glade.