„The transaction also included the buildings. The plot is situated very close to the Best Foods factory and is suitable for a warehouse“, explained for ZF Gheorghe Ilie, major shareholder in Spicul.

The transaction was done for an average price of EUR 350/sq. m, with 30% discount compared to the price other deals were made to in the area eight years ago.

The deal between Spicul and Best Foods comes in the context the bread manufacturer is struggling in insolvency for the last couple of years, after the company has broken down under the pressure of debts exceeding EUR 20 million. The company’s decline started after the manufacturer relocated its factory from Orhideea area to Rudeni, in Ilfov county, without succeeding to reoccupy its place in the market.


Best Foods Romania’s representatives, a company with EUR 12.8 million turnover/year, have not commented the transaction yet. (sursa: zf.ro)