US private-equity group Highlander Partners has announced the acquisition of a majority stake in Polish convenience food processor QFG.
The acquisition of the 60% stake by Highlander will see QFG invest in increasing its production capacity. QFG’s founders retain ownership of a 40% stake.
QFG said the capital increase would be invested in production including the development of its third plant in Poland. The firm produces meat products for retail and foodservice customers in Poland and other parts of Europe.
“We are amazed by QFG’s expansion up to date. It stems from the company’s unique openness to customer needs. We applaud the innovative approach to business of the founders, who follow best practice and the latest technologies in the global food market, and constantly introduce changes in the company. We have just become partners with a well-developed and competitive company, which requires capital and an experienced partner to grow further”, said Maciej Rybicki, operating partner at Highlander Partners.
Jaroslaw Krzyzanowski, the founder and president of QFG, added: “Customers in Europe, Poland included, expect us to produce more. The recent investment from Highlander Partners will help QFG to significantly increase our production capacity and satisfy this demand. With the transaction closed today, apart from the new capital needed at this stage, we have gained a trusted partner, with whom we will build a value adding strategy for the business we founded. The convenience food market in Poland and the European Union has been growing at a single-digit pace. Our realistic medium-term goal is the double-digit increase of our company”.