Agroserv Mariuta, the company that operates the dairy brand "Laptaria cu Caimac," will list its bonds on the Bucharest Stock Exchange (BVB) on Tuesday, December 8, Ziarul Financiar reported.

The bonds, worth EUR 3 million, are denominated in euro, with a maturity of 5 years and a coupon of 5.25%.

The company issued the bonds in a private placement between October 27 and October 30, in which 94 investors participated.

The investment, brokered by BT Capital Partners, was fully underwritten.

"We need money for investments. We started exporting, and our products are in stores in Spain. We hope that next week we will start exports to Italy and Luxembourg as well," the company's manager Adrian Cocan announced in a Profit TV interview.

He pointed out that, in relationship with the foreign distribution chains, the lack of a robust brand for Romanian products is a handicap.

"We met with the distributors, we put the products on the table, and they tasted them. There was a bit of reluctance because Romania does not have a positive country brand. After we overcame this topic and they saw that the products are of the best quality, they looked for solutions to put the goods on the shelf. We have to work on the communication side, to start the brand construction from scratch," explains the company's manager.

The company is 98% controlled by the Cocan family. Agroserv Măriuta reported RON 37.6 million (EUR 7.7 mln) in revenues for the first half of this year, 40% more than in the same period of 2019, while its net profit decreased to RON 392,000 (some EUR 80.000) from RON 2.8 mln (EUR 0.6 mln).

(Photo courtesy of the company)

andrei@romania-insider.com