EXONIA has acquired the former Vel Pitar bread factory in Iași

EXONIA has taken over the real estate assets of the former major Iași bakery complex, previously managed by Vel Pitar and owned by VP Terenuri, a part of the American investment fund Broadhurst NCH Capital. The company aims to transform it into the largest biodegradable packaging factory in Eastern Europe, following investments of over 14 million euros.

EXONIA is transforming the largest bakery complex in northeastern Romania into arguably the largest biodegradable paper packaging factory in Eastern Europe.

Although they did not wish to disclose the value at which the assets were purchased, Exonia representatives conveyed to that the installation of the facilities will require a budget of approximately 1.5 million euros, and new technological lines will operate in the respective buildings, with a cumulative value reaching about six million euros.

Ziarul de Iași writes that the transaction value is 7 million euros. In total, the investment in the new factory would be 14.5 million euros.

The company acquired the industrial platform, which has an area of ​​almost 30,000 square meters and includes large industrial halls of over 7,000 square meters, located right next to the EXONIA factory, on Calea Chișinăului Boulevard in Iași.

Through this expansion, EXONIA will have nearly a hectare of halls located on approximately 5 hectares of platforms, used for storage and logistics activities.

The development of the largest biodegradable packaging factory in Iași will allow the manufacturer access to Western Europe via the future highway, but it will also open doors to the USA and the Middle East, markets to which the products will be sent through the Port of Constanța. Additionally, the factory is close to Ukraine, a market about which company representatives say will generate significant consumption once the war is over, consumption generated by the financial support for reconstruction that our neighbors will receive.

“The new extremely generous production spaces, in which state-of-the-art technological lines in the final production phase in Germany will be installed in the first semester of next year, will provide EXONIA businesses with the momentum and resources necessary to support the strategic development plan elaborated in the first part of 2022,” says Tiberiu Stoian, founder of the Exonia group.

The Broadhurst Investments LTD investment fund, managed by New Century Holdings, an American group with businesses in Central and Eastern Europe. In Romania, NCH holds majority stakes in well-known companies at the national level, in sectors such as the food industry, real estate, banks, IT, internet, media, production, and industrial services.

The EXONIA group, founded in the 2000s, is controlled by businessman Tiberiu Stoian (90%), alongside his wife Nadia (10%), and includes, in addition to the paper packaging manufacturer EXONIA Holding, investments in the production and distribution of polymer packaging, IT, real estate, and agriculture in Romania and the USA.

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