Kober SRL, one of the largest domestic paint and varnish producers, has given up its operations in the domain of distribution, having chosen to exclusively focus instead on varnish and paint production, starting this year.
The step was taken through the sale of the commercial fund of Pitura SA distribution firm to five regional distributors, estimated as standing at up to half a million euros, according to sources close to the deal.
According to these sources, the sale of the distribution areas took place in the context where the targets set upon the distribution company’ establishment had largely been achieved, namely promoting and distributing Kober products through a well established network.
According to the latest available information, Pitura SA annually logged deals worth between 8 and 10 million euros, the company’s stock continuing to be held by Kober SRL (90%) and by a natural person, Bogdan Parvu.
The five distributors that have closed the deal include Hausmann SRL (with distribution operations in Dolj, Olt, Gorj counties), Delkimvas Vaslui (that has taken over the Pitesti region as well), Pitura SV (covering Suceava and Botosani) and Autentic Distribution SRL with distribution operations in the Sibiu, Alba and Mures regions.
Kober representatives could not be contacted for comment on the information.
Piatra Neamt-based paint and varnish producer Kober projects turnover worth 40 million euros for this year, 30% higher year-on-year, amid a profit rate of 10%-11% of turnover.
Its founders estimate that the market value of the Kober paint and varnish business stands at about 35-40 million euros. Aurel Kober, a former engineer with Severnav Drobeta-Tunru Severin shipyard, set up the business in the early ’90s. He holds 95% of its stock, the rest of shares being owned by his wife, Mariana Kober.
According to its own estimates, Kober holds a share of about 28% of a domestic market put at 120-140 million euros per year, its main rivals being Dufa Romania and Policolor Bucharest. Over the last few years, Kober has also entered the heating systems business, owning a plant in Vaduri, Neamt county.
Policolor Bucharest has particularly positioned itself on the enamel and car paint segment, according to market research. Policolor stock is owned by four investment funds.
Dufa Romania was set up in 1997 as a joint-venture in the import and distribution of varnishes and paints, in which the German Meffert AG group holds a 50% stake.
adrian.mirsanu@zf.ro