Bleyzer: Romanian entrepreneurs ask for too much money

Michael Bleyzer, chairman and CEO of the American-held investment fund SigmaBleyzer, which entered Romania this year through the acquisition of milk producer Covalact, says the price that Romanian entrepreneurs are asking for their businesses has become too high compared with its actual value. SigmaBleyzer was set up in 1994 by the Bleyzer family, and is one of the largest investors in Central and Eastern Europe. Currently, it manages funds worth around 1 billion dollars. “Our target is to close another two or three deals in the coming years (on the local market, i.e.). It is increasingly hard to find businesses, because many of them have already been taken over, but also because entrepreneurs have very high expectations. Many don’t understand that, for an investment fund, a company’s value lies in its growth potential, and that they are competing for this money with other entrepreneurs in the region,” Bleyzer told ZF in an interview.