Serbia-based dairy and confectionery company Danube Foods Group is set for a new private-equity owner after Mid Europa Partners struck a deal to buy the business.

Mid Europa, a private-equity group that focuses on central Europe and Turkey, is to acquire a company that owns regional dairy processors Imlek and Mlekara Subotica, as well as Serbian confectioner Bambi, from Salford Capital Partners.

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Announcing the deal for an undisclosd sum, Mid Europa said desacribed Danube is a “leading branded FMCG platform” in the former Yugoslavia, generating revenues of EUR400m (US$453.4m) in 2014.

Robert Knorr, Mid Europa’s senior partner, said the investment vehicle would support the group’s development “through capital investment or through organic and acquisitive growth”. 

Knorr added: “Mid Europa has an excellent track record of building true regional champions out of national leaders, and I am confident  our investment in the group will be equally successful.”

Andrej Babache, a director of Mid Europa, who led the execution of the transaction added: “The Danube Foods Group owns some of the region’s most recognsed consumer brands. This is a strong platform with significant regional expansion potential.”

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