Cretu's new bet: a cheaper competitor for Red Bull

The Romaqua group controlled by businessman Octavian Cretu has recently launched its own energy drink brand on a market dominated by Red Bull with a share of about 50%.

The Romanian producer is thus expanding production of the brewery in Sebes, which it opened in 2008 by having it enter a new market with the Giusto Elektrik brand, positioned on a lower price segment than Red Bull. The new brand is targeting 3-4% for the first year on a market put at 40-50 million euros.

"No additional investments in production were needed for this launch. Giusto Elektrik is bottled on the Albacher beer can line," said Radu Lazaroiu, general manger of Romaqua Group Borsec.

The factory in Sebes, Alba county was inaugurated after 39 million-euro investments, with most of the money coming from a 31 million-euro loan from BCR. Romaqua, the biggest local mineral water bottler posted 130 million-euro sales in 2008, according to the latest reports of the group, generated by such brands as Borsec, Giusto and Albacher.