Belgian company Turbos Hoet Group, which specialises in selling new and used trucks as well as truck parts, acquired earlier this year a 50% stake in EVW Holding, the only importer and distributor of DAF trucks in Romania, Ziarul Financiar reported.

At the beginning of this year, Romanian investor Gheorghe Chita became the company's sole shareholder, after taking over the stakes of his partners Ad van Wijk and Mircea Muresan, who wanted to dedicate more time to their logistics business – Logistic E van Wijk, a report on said.

After that, Chita approached Piet Wauters, CEO of Turbos Hoet Group, and proposed a joint venture.

"We were very excited by this project, given that Romania has always been an interesting challenge for us, because we couldn't enter this market as DAF only works with only one distributor in each country," said Wauters.

EVW Holding didn't disclose the value of the transaction.

It had a turnover of EUR87m in 2018, up 74% year on year.

The company also booked net profit of EUR217,000 and had 466 employees.

Turbos Hoet Group is the biggest DAF truck dealer worldwide.