Den Braven new shareholders want to double turnover by 2013

Den Braven Romania, the domestic subsidiary of Dutch group Den Braven, plans to reach turnover of around 60m euros by 2013, double last year’s level, once it expands production capacities domestically and launches new brands. The growth target was set as Egeria and Wagram Dutch private equity firms have recently taken over the majority stake in Den Braven from the owner of the group, Cees den Braven. The group already invested around 20m euros in the 2007-2009 period in a production unit located in Buftea, near Bucharest, which has made it possible for the company to reach 50% market share on the polyurethane foam segment, Den Braven’s main product. “The growth target set for the next 3 years will be supported by the launch of new products, the rising market share in Romania and a massive export increase after, in just 3 years after being set up, the firm currently exports to 32 countries,” says Adrian State, general manager of Den Braven Romania. The company in the first half of this year registered a 40% increase to 16.3m euros, on doubling exports and sales to DIY stores.