ROCA Investments has completed its exit from Artesana, the Romanian artisanal dairy company, selling its entire 20% stake to another investment fund after five years of value creation. The transaction delivered an internal rate of return (IRR) of 30%. 

The Bucharest-based private equity firm first invested in Artesana in 2020, during the early stages of the COVID-19 pandemic. At the time, Artesana reported turnover of RON 17.8m. By the end of 2024, the company is expected to exceed RON 55m in revenue, reflecting a tripling in top-line performance under ROCA’s stewardship.

During the investment period, Artesana quadrupled its production capacity to 40,000 litres per shift with the construction and launch of a new €6m factory. The company also broadened its product range and extended distribution both within Romania and internationally.

“This investment is living proof that when private capital meets the right company and the right partners, it can generate accelerated and healthy growth,” said Rudi Vizental, CEO and co-founder of ROCA Investments.

The exit marks a planned step in ROCA’s investment strategy, which focuses on building and scaling Romanian companies with long-term potential through both capital and operational support.

Artesana co-founder Daniel Donici added: “Together with a partner who understood our vision and supported us with trust and know-how, we managed to go through a profound transformation.”

The deal is pending regulatory approval and will become effective once all necessary validations are completed.

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