The European Bank for Reconstruction and Development (EBRD) and Romanian FMCG transporter Aquila have agreed to the terms of a EUR 5 mln loan extended by the bank along with an option to buy shares of up to another EUR 5 mln from the group's founders - C?t?lin Vasile and Alin Dociu. The financing package thus amounts to EUR 10 mln. The proceeds from the loan will enable Aquila to finance the expansion of its portfolio of brands (currently including 'Gradena' refrigerated vegetables and 'Yachtis' refrigerated fish and seafood), new warehouse automation, a new ERP system, as well as other working capital and capital expenditures needs, the EBRD says in a press release. These investments will improve the reach of Aquila's brands, as well as improve warehouse productivity and help the company enhance its digitalisation. Aquila Part Prod Com (Aquila) is the largest FMCG distributor in Romania and the Republic of Moldova, delivering to 67,000 selling points. It operates a network of 14 distribution centers and a fleet of over 1,600 vehicles. The company's turnover reached EUR 370 mln in 2020, according to Ziarul Financiar.
The Learning Tapestry. The Future of Education Conference, which will take place on 5 and 6 June in Bucharest is a learning opportunity for entrepreneurs and leaders who understand the importance of developing essential skills today, in today's fast-paced and highly dynamic environment, such as systems thinking, adopting an empathetic leadership style, building and developing […]
The Social Democrat Party (PSD), part of the governing coalition with the National Liberal Party (PNL), has attracted most of the mayors that decided to change parties before this year’s local elections, a report by think-tank Expert Forum shows. The PSD attracted 279 candidates, most of them from PNL (174) and the People's Movement Party […]
Romanian actor Ioachim Ciobanu stars in the newly released Netflix miniseries "Eric," with Benedict Cumberbatch in the lead role. The show premiered on May 30. Ioachim studied computer arts in San Francisco and then film editing at UNATC "I.L. Caragiale," directing numerous short films and commercials. Since 2013, he has dedicated himself exclusively to acting, […]
AfterLand, an exhibition opening on June 4 at Rezidenta9 in Bucharest, brings together works by an international group of artists working at the intersection between art, science, and nature. Each of them has a particular affinity with water, approaching it from different angles as varied as the symbolic values of the element itself, according to […]
This article series tells the stories of the 15 finalists selected in the Made in Romania 2023 program. Made in Romania is the flagship program of the Bucharest Stock Exchange dedicated to the development and promotion of the Romanian entrepreneurial environment. The program’s goal is to select and promote Romanian companies that have the greatest […]
Italian banking group Intesa Sanpaolo announced on May 31 that it completed the acquisition of the Romanian group First Bank S.A. from the US-based private investment fund J.C. Flowers & Co. The takeover allows Intesa Sanpaolo to double its presence in Romania, where it has been active since 1996. The acquisition also strengthens the competitive positioning of […]
