Porta Finance advised a portfolio company of Bridgepoint, major international private Dr Gerardequity group, on acquisition of a food producer in Poland. Bridgepoint’s portfolio company Dr Gerard, one of the largest producers of cookies and wafers in Central & Eastern Europe, has acquired 100% shares of Artur from the Mieszko Group. Mieszko Group is controlled by Lithuanian investment company Eva Grupė.
Porta Finance advised the acquirer on all key transaction aspects including the preparation and planning as well as the approach of the seller, negotiations of the transaction in a bi-lateral process, assistance in the coordination of the due diligence and eventual closing of the transaction. “This deal is a perfect example of the strength of our international and local relationships employed for our clients benefit,” said Julijus Grigaliūnas, Porta Finance partner.
Bridgepoint is a major international private equity group focused on investing in market-leading medium-sized businesses. Bridgepoint’s main focus is on acquiring businesses throughout Europe valued between €200 million and €1 billion. Established over 25 years ago, Bridgepoint is managed by 24 partners leading a qualified team of 80 investment specialists from 16 countries. As at the end of 2014 the group had current funds under management of €12.4 billion and held a portfolio of 47 companies.
Dr Gerard is one of the largest producers of cookies and wafers in Central & Eastern Europe, with a product range including over 200 different items. It has three manufacturing plants in Poland. Apart from domestic sales, Dr Gerard exports goods to over 30 countries, accounting for over 30% of revenues, which totalled nearly PLN 290 million in 2014.
“The acquisition of Artur is our first step in the direction of consolidating the fragmented cookie market in Central & Eastern Europe. With this transaction, the scale of our business will increase by about 20%. Our goal within the next few years is to achieve a major position in every market in Central & Eastern Europe where we are currently present.” said Jarosław Zawadzki, CEO of Dr Gerard.
Mieszko Group is a leading Polish confectionery group focusing on chocolate products and sugar confectionery. Mieszko acquired Artur in 2011 to add sweet cookies and salty snacks for their portfolio. Following the disposal of Artur the Group’s production is based in 3 production plants – 2 in Racibórz and one in Warsaw. Mieszko Group is ultimately controlled by Eva Grupė, a private equity holding based in Lithuania.
Partner, Porta Finance
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