IK Investment Partners, a Pan-European private equity firm, has agreed with the owners of Agros Nova, ITR Investment Partners, to acquire a majority stake in the company.
Agros Nova is a diversified food and drink company in Poland. Terms of the agreed sale are not disclosed.
Headquartered in Warsaw and employing a total of around 2,300 staff, Agros Nova is a top three player in all three of its operational business segments, comprising fruit and vegetable preserves, ready-made food and non-carbonated beverages. The company currently operates four modern manufacturing plants in central Poland.
For the financial year ended December 2009, the company generated revenues of approximately PLN950m.
Detlef Dinsel, one of IK’s managing partners, says: “We are delighted to announce the acquisition of Poland’s market leading food and drink business. The company has an excellent track record with further potential to consolidate its position as the number one choice for Polish consumers. This marks our second acquisition in Poland, following the buyout of Axtone, the leading manufacturer of railway components in 2008, and we continue to believe in the strong regional fundamentals as we seek to consolidate our presence in Central and Eastern Europe.”
Robert Niewiadomski, president of the Agros Nova management board, adds: “I am deeply convinced that partnering with IK will offer us a rare opportunity that will benefit the whole business group and its people. We will work closely with our new owner to leverage our experience and understanding of the Polish market and consumers and look forward to working together to take advantage of the many new business prospects that exist throughout Europe.”
