680m-euro business for Micula brothers

The European Food & Drinks group, held by the Micula brothers, the biggest player on the food market, increased sales by 11% against 2005, according to data supplied by the owners. Business for the group, which consists of European Food, European Drinks, Scandic Distilleries and Transilvania General Import-Export, therefore exceeded 680 million euros at the end of last year, according to data previously reported to the Ministry of Finance. “Sales of spirits fell last year, due to a high increase in excises in 2006, but beer and soft drinks compensated for this through significant increases. The black market also saw an increase due to excises,” stated Ioan Micula, chairman of European Food.