Bounty Brands, the fast moving consumer goods business with a portfolio of leading brands that are sold in over 40 countries, announces the acquisition of Profi, Poland’s prominent producer of pates and ready-to-eat soups.
Profi’s market share in ambient pates and soups is complemented by its presence in the fast-growing healthy food categories such as chilled ready meals, fresh soups and lunch salads. Bounty Brands intends to accelerate Profi’s growth in these categories with the support of the current management and employees.
The company employs over 300 staff and operates from a modern production facility in Grabów nad Prosna in central Poland. In 2016, Profi generated revenues of over PLN 115 million.
The addition of Profi represents a further expansion of Bounty Brands’ Food activities in Central and Eastern Europe (“CEE”) and is the third major acquisition made in Poland in the last two years. Bounty Brands’ previous acquisitions in the country have included: Sonko, the market-leading, value-added rice and healthy snacks business; and Stella Pack, a major manufacturer and distributer of recycled refuse bags and other non-chemical household products.
The addition of Profi also represents a further expansion of Bounty Brands’ foods activities globally, which includes key South African brands such as Serena (olive oil, balsamic vinegar and other Mediterranean cuisine products), Liberty Select (canned fruits and vegetables), Offenau (gherkins and other pickled vegetables) and Sea Queen (canned fish products).
The transaction is conditional on approval from the Polish Competition Office (“UOKiK”).
Vienna Capital Partners acted as exclusive buy-side investment banking advisor.
About Bounty Brands
Bounty Brands is a fast moving multi-national consumer goods company with a portfolio of leading brands that are sold in over 40 countries, mostly in the Southern African and Central & Eastern European regions. Its brands span a number of consumer sectors with the main focus being food, apparel and personal & home care. For more information visit: www.bb.co.za
Coast2Coast, a controlling shareholder in Bounty Brands, is a private investment company with offices in Warsaw, London, Malta, Johannesburg, Cape Town, Sydney and Melbourne. It is a value investor, using their own capital to finance investments. Coast2Coast achieves its vision by taking a semi-active ownership role in its portfolio of companies, and creating value for shareholders by partnering with management teams in order to improve strategic, operational and financial performance. For more information visit: www.c2c.co.za
Wielkopolska Wytwórnia Żywności Profi was established in 1993. Since its inception, Profi’s offer has been gradually expanded with new product categories in response to the changing market demand. Today Profi is not just pates, but also a dozen other categories: soups and ready meals, instant soups, lunch salads, sandwiches and hummus. All products are based on traditional recipes and are made of quality meats, vegetables and spices. Thanks to the modern technology, they retain their freshness and full flavor and nutrition attributes. Modern production technology, safe packaging and numerous awards have resulted in Profi gaining more and more trust and recognition of consumers both in Poland and abroad. Profi is the winner of 10 consumer awards. In 2012, the company was awarded a Golden Certificate of Charity for its social activities. For more information visit: profi.com.pl
Source: VCP, 25/10/2017