Delicpol, a Polish confectionery company, has acquired Cuprod, a Polish confectionery manufacturer, with the support of its shareholders AXA Private Equity and Resource Partners.
The transaction has been completed one year after AXA Private Equity and Resource Partners acquired the business, and forms part of the growth strategy for the business set-up alongside the management team.
The merger will provide market consolidation and create a significant player in the European confectionery market.
Established in 1992, Delicpol is a leading Polish confectionery company which specialises in biscuit manufacturing. Since its inception, the company has grown from a small business to a significant regional player with over 700 employees.
Ryszard Wojtkowski, managing partner of Resource Partners, says: “Consolidating this fragmented market is an important part of our investment strategy. We are open to further acquisitions in Poland or the entire CEE region.”
Dominique Gaillard, member of the executive board amd managing director of AXA Private Equity, says: “The transaction will significantly strengthen the market position of the merged companies and enable the sharing of best practices to generate significant revenue synergies, broaden product offerings and further improve customer service. We look forward to supporting the company as it continues its development.”
The merged companies will be managed by the current chief executive of Delicpol, Tomasz Grzybowski. Founders and board members of Cuprod will remain as managers in the group.
AXA Private Equity and Resource Partners established a strategic partnership in CEE in May 2010.
