Bucharest, November 26th, 2025
PRESS RELEASE

Cris-Tim Family Holding marks its debut on the Bucharest Stock Exchange and becomes the first large entrepreneurial company in the food industry to be listed on the Main Market

• Cris-Tim Family Holding shares debuted on November 26th on the Bucharest Stock Exchange (BVB)’s Main Market under the ticker symbol CFH.
• Cris-Tim becomes the first company in the food industry sector to be listed on the BVB’s Main Market, marking one of Romania’s most representative entrepreneurial businesses to reach the local stock market.
• Between October 17th and 29th, 2025, Cris-Tim Family Holding carried out an Initial Public Offering (IPO) worth RON 454.35mn (EUR 89.3mn).
• Following the Offering, Cris-Tim received an effective capital infusion of RON 397.5mn, which will contribute to financing the company’s ambitious investment plans for the 2025–2030 period.
• The company’s free float stands at 34.48% of the share capital, and its market capitalization at the IPO execution price of RON 16.5/share amounts to RON 1.33bn (EUR 261.3mn).
• The Offering recorded strong demand from both retail and institutional investors.
• The retail investors’ tranche posted a record subscription level for the local capital market – 42 times and 32 times after reallocating 5% from the institutional investors’ tranche.
• The company’s shares can be traded on the BVB through authorized brokers. The list of authorized brokers is available HERE.

Cris-Tim Family Holding (CFH), the market leader in cold cuts and ready-meals in Romania, debuted today, November 26th, 2025, on the Bucharest Stock Exchange (BVB), following the completion of an Initial Public Offering worth RON 454.35mn. Cris-Tim Family Holding thus becomes the first Romanian entrepreneurial company to be listed on the BVB’s Main Market after a landmark transaction for the Romanian capital market, which involved the European Bank for Reconstruction and Development (EBRD), the most representative Romanian institutional investors active on the local stock exchange, as well as more than 8,000 retail investors.

The Initial Public Offering took place between October 17th and 29th, 2025, and the funds raised from institutional and retail investors will be used in a proportion of over 87% to support Cris-Tim’s development and investment plans. Following the transaction, the company benefits from a capital infusion of RON 397.5mn, consisting of two components: a capital increase amounting to RON 91.5mn and the repayment by the selling shareholder, Rangeglow Limited, to Cris-Tim Family Holding of RON 306mn, representing the settlement of intra-group loans granted by the company in recent years, with the related details presented in the dedicated sections of the Prospectus.

The company’s shares are traded on the BVB under the ticker symbol CFH, and its market capitalization at the offering price of RON 16.5/share is RON 1.33bn (EUR 261.3mn). Cris-Tim Family Holding’s free float following the IPO stands at 34.48% of the share capital. The company’s founding entrepreneurs, Radu and Cristina Timiș, continue to hold 65.49% of the shares through Rangeglow Limited. The European Bank for Reconstruction and Development (EBRD) and the NN Private Pension Fund have become shareholders of the company with stakes of 5.01% and 7.61%, respectively. Additionally, other local institutional investors, including mandatory and voluntary pension funds as well as open-end investment funds, subscribed within the IPO.

“Cris-Tim Family Holding’s entry onto our market is a victory for a family-owned company and for the capital market, which welcomes Cris-Tim with open arms. Today we are sending a clear message: the BVB is ready to play its role in financing the entire Romanian economy, not just the traditional players in energy and finance. For the Bucharest Stock Exchange, Cris-Tim is an invitation for the capital market to intensify its efforts to attract companies from new and more diversified sectors, and a challenge to ensure that our market is optimally positioned to welcome listings from agriculture, tourism, commerce, and services. For investors, Cris-Tim is an opportunity to gain exposure to a sector they know and use every day, but one in which they have not had the chance to invest systematically until now. I congratulate the Cris-Tim team and wish them a prosperous journey and the fulfillment of their boldest objectives”, said Remus Vulpescu, CEO of the Bucharest Stock Exchange.

“For Cris-Tim Family Holding, the stock exchange listing is a turning point in the development of our business and a validation from the market and investors of the value we have been creating for the Romanian economy since 1992. Over the years, we have set benchmarks and models for consumers and competitors alike, turning ideas into reality. We have set trends, innovated, and driven the transformation of the entire market. The stock exchange listing has always been an aspiration, and today, November 26, 2025, this objective has become reality.

Our new status as a publicly listed company on the Bucharest Stock Exchange’s Main Market brings a greater responsibility toward everyone who chooses our products every day, toward those who placed their trust in us by participating in the IPO, and toward our future shareholders who will join us as the company’s shares begin to trade. Cris-Tim’s listing is a defining moment not only for us, but also for the entire industry we belong to. Once again, we are setting a model to follow, including from the perspective of using capital market mechanisms for development and growth. We hope that our story, from 1992 until today, will encourage other entrepreneurs to follow their dreams and emerge as leaders in their respective industries”, said Radu Timiș Jr., CEO of Cris-Tim Family Holding.

“The success of our IPO demonstrates investors’ interest in the food industry in Romania and the region, as well as in a company with an efficient and high-performing business model. The funds raised during the IPO will support our development plans at both local and regional levels, across the two markets in which we operate—cold cuts and ready-meals. Over time, the company has proven resilience and an ability to innovate. We firmly believe that our listing on the stock exchange will bring benefits to the company, our shareholders, our consumers, and the entire market”, added Răzvan Furtună, CFO of Cris-Tim Family Holding.

The Cris-Tim offering was structured into two tranches: one for retail investors in Romania and one for institutional investors outside the United States of America. The retail investors’ tranche recorded a record oversubscription for an Initial Public Offering on the local capital market, namely 42 times. Cris-Tim Family Holding and Rangeglow Limited, the majority shareholder, decided to reallocate 5% of the shares available in the Offering from the institutional investors’ tranche to the retail tranche. After the reallocation, the retail tranche was oversubscribed 32 times. In total, 27,790,000 shares were sold within the Offering, of which 5,600,000 were new shares as part of a share capital increase, 20,866,667 were existing shares offered for sale by the majority shareholder Rangeglow Limited, and 1,323,333 were over-allotted shares provided by Rangeglow.

Banca Comercială Română and BRD – Groupe Société Générale acted as Joint Lead Managers and Subscription Registry Administrators. Legal assistance regarding the preparation, execution, and completion of the offering was provided by Filip & Company for BCR and BRD, and by Clifford Chance Badea for Cris-Tim Family Holding.

“The listing of Cris-Tim Family Holding on the Bucharest Stock Exchange marks a milestone for the development of the capital market and a signal of the maturity of the Romanian economy. For BCR, this achievement represents the fulfillment of a long-term partnership and a growth strategy. We are speaking about a business with a history of more than 30 years, built with passion, expertise, and strong governance, with whom we have collaborated closely during the preparation and execution of the offering. Cris-Tim is now a benchmark issuer—the first local agribusiness and the first entrepreneurial company listed on the BVB by its founding family—attracting capital, trust, and investor appreciation, and demonstrating that Romanian entrepreneurship can become a regional standard of performance. We thank the Cris-Tim team and all project partners for their professionalism and contribution to a new chapter in the development of Romania’s capital market”, said Cosmina Plaveti, Managing Director Investment Banking at BCR.

“Cris-Tim is one of the most prominent entrepreneurial businesses in Romania and, from this perspective alone, the Initial Public Offering stands among the most important transactions in the recent history of the local capital market. The success of the IPO was driven by the company’s sustainable competitive advantages, the strong reputation of its brands, the professionalism of the management team, and the credibility of its entrepreneurial story. The remarkable transparency and openness of the founding entrepreneurs and the management team in presenting the details of the business model and the visibility of the highly ambitious investment program outlined for the coming years represented tangible points of attraction for investors. The BRD team is honored to have been one of the company’s key advisors in this transaction, and we are confident that Cris-Tim’s success story will continue in its new role as a major issuer on the Bucharest Stock Exchange”, said Irina Neacșu, Executive Director Corporate Finance, BRD – Groupe Société Générale.

About Cris-Tim Family Holding

Cris-Tim is a Romanian entrepreneurial company founded in 1992, which over its 33 years of existence has grown from a start-up into the market leader in cold cuts and ready-meals, both organically and through acquisitions. The company has consistently strengthened its market shares in its target sectors as well as its profitability through substantial investments in technology and logistics, innovation, a strong focus on product quality, competitive raw material sourcing, the development of strong brands, and high levels of employee engagement and retention.

Cris-Tim is present in the retail market with its cold cuts brands “Cris-Tim,” “Matache Măcelaru’,” “Alpinia,” “Obrăjori,” and “Csárdás,” as well as with the “Bunătăți” ready-meals brand. The company is also an emerging producer in the private label segment for major international modern retail chains. Cris-Tim brands appear on the shelves of all 13 retail networks operating in Romania, as well as in more than 15,000 traditional stores. The company also operates a network of 18 company-owned stores and exports its products to 17 European countries.

Cris-Tim Family Holding is currently one of the largest companies operating in Romania’s agri-food sector, with production facilities aligned to modern technologies. The company operates three factories with a combined capacity of 215 tons/day, the main facility being the one in Filipeștii de Pădure, with a production area of 50,000 square meters and a technological capacity of 165 tons/day. Additionally, the company operates a factory in Măgureni and one in Bucharest, each with an individual production capacity of 25 tons/day.

For the 2025–2030 period, Cris-Tim is planning an investment program amounting to RON 890mn, of which RON 768mn are allocated to the Cold Cuts business segment and RON 121mn to the ready-meals segment and other investment objectives. Beyond its organic growth objectives, the company intends in the coming years to identify merger and acquisition targets to strengthen its competitive position in the cold cuts and ready-meals markets, as well as to diversify its product portfolio.

About BVB

BVB is the only securities market operator in Romania. BVB, a company listed on its own market since 2010, is part of the BVB Group which includes the Central Depository, responsible for registry and settlement operations in Romania, and from 2019 the central counterparty CCP.RO, an institution that will take over the function of clearing securities transactions in Romania and which will contribute to the relaunch of the derivatives market. BVB manages two distinct markets, the Regulated Market and the Multilateral Trading System, on which a variety of financial instruments are listed such as shares, bonds, fund units, certificates, structured products, preferential rights. The efforts of BVB and its stakeholders to modernize and develop the Romanian capital market were recognized by the promotion to Emerging Market status by the global index provider FTSE Russell in 2020. Currently, 12 Romanian companies are included in the FTSE Russell indices dedicated to emerging markets. More information on www.bvb.ro.

For additional information, please contact:
Bucharest Stock Exchange: Bianca Dascălu, [email protected]
Cris-Tim Family Holding: Zuzanna Kurek, [email protected]
Rogalski Damaschin Public Relations: Natalia Negru Botezan, [email protected]