Sara Lee distributor holds 7% in Siretul

The evolution of the stock of curtain producer Siretul Pascani on the bourse and the company’s development outlook have drawn the attention of businesspeople from other sectors.

Alin Dicu, the majority stakeholder in the Arad-based companies Safilar and Coturnix (both of which are Romanian market distributors of consumer goods made by US producer Sara Lee), has become the largest shareholder in the Siretul company, holding about 7% of its stock. The stake is now worth 0.5 million euros.

Distributors of Sara Lee products (which include Ambipur, Kiwi, Douwe Egberts, Pickwick) last year derived turnover of more than 9 million euros.

Last year, Siretul Pascani was one of the most profitable stocks on the bourse, with its price posting several leaps after the Employees Association, its former largest shareholder, was disbanded.

“Siretul Pascani holds a very well known brand in Romania and abroad. What we will do now is to properly develop the distribution component as well,” says Dicu.

Beside Dicu, the list of shareholders now includes several important brokerages headquartered in Cluj, holding significant stakes, such as SSIF Broker and Target Capital, Banca Transilvania, as well as businesspeople.

During the first General Meeting, Petru Prunea, who is also the chairman of SSIF Broker securities company, was designated as chairman. During April’s General Meeting, the company’s share capital was increased by 60% through the granting of bonus shares, and the face value of stock was divided from 2,500 to 1,000 ROL/share.
vlad.nicolaescu@zf.ro