Poland-based food and drink group Maspex is to acquire parts of local peer Agros Nova from private-equity firm IK Investment Partners.
Maspex has struck a deal for seven brands including Lowicz jams and sauces, Kotlin ketchups and functional products brand Dr Witt, under which Agros Nova sells lines like gum and syrups.
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It will also take on plants in Lowicz and Wasosz, as well as certain private-label lines.
Under the deal, agreed for an undisclosed sum, IK will keep three drinks brands, a production plant in Tymienice and a warehouse.
Maspex said the acquisition, which remains subject to local competition approval, would be the largest in its history.
It pointed to benefits including increased scale and the entry into new categories including jams and soups.
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By GlobalDataMaspex said its annual turnover would increase from PLN3.3bn to over PLN4bn.
Marek Sypek, Agros Nova’s CEO, who will take a role to run the drinks businesses that will remain with IK, said: “After more than four years under IK’s ownership, completing our internal restructuring and relaunches of the strategic brands, handing over the Company to a reputable peer as Maspex is a very natural step. Maspex will guarantee long-term investments into brands, production sites as well as employees. I am particularly proud that the transaction will allow our employees to develop within the biggest food group in central and eastern Europe.”
