Porta Finance, Rothschild & Co and CORPIN advised Decapterus, a Luxembourg based Hame private equity holding, on the sale of its portfolio company Hamé, the leading Central and Eastern European food producer, to Orkla, Europe’s leading branded producer of consumer goods listed in Oslo, for an enterprise value of €175m. The transaction is subject to approval of the relevant competition authorities.
Hamé holds strong market positions in numerous categories that represent a good fit with Orkla’s existing portfolio. By joining forces with Hamé, Orkla will double its turnover in Central Europe.
Commenting on the sale, Hamé CEO Martin Strupl said: “I see this change very positively. Group Hamé is doing extraordinarily well. Now the company needs a strong experienced owner which will give it a new impulse, will fully use its potential and support its further development and growth”.
Orkla’s existing assets in Central Europe include Vitana (the Czech Republic and Slovakia), Felix Austria, and Orkla Foods Romania.
“With Vitana and Hamé, Orkla becomes an attractive supplier to the grocery trade in the Czech Republic and Slovakia, and the transaction will also strengthen our operations in Romania. A stronger foothold in Central Europe will ensure that Orkla is well positioned for further growth in these markets”, said Atle Vidar Nagel-Johansen, Orkla EVP and CEO of Orkla Foods.
Decapterus is a Luxembourg based private equity holding, created to hold the Hamé investment on behalf of private investors.
Decapterus appointed Rothschild along its exclusive partners in the Baltics and the Czech Republic (Porta Finance and CORPIN) to lead an extended competitive process for the sale of Hamé. The transaction was particularly complex due to the target companies size and mix of product portfolio, exposure to multiple geographies and impact of the geopolitical environment. The combination of Rothschild sector knowledge concentrated in London and local relationships in the Nordic/Baltic region as well as in the Czech Republic was particularly instrumental in the process.
Hamé is the leading branded ambient and chilled foods producer in CEE. With well-known brands such as Hamé, Májka, OTMA, Znojmia, Hamánek etc., it boasts a diversified portfolio of products including processed meat products (chilled and canned pâtés, travel snacks and ready-made meals), preserved vegetables, sweet products (marmalades and jams), ketchups, tomato purees and sauces, baby food, baguettes and sandwiches and others. The company has leading market positions (top #1 and #2) in the Czech Republic, Slovakia, Russia, Romania, Hungary and Ukraine, and exports to over 35 countries worldwide.
Orkla is a leading supplier of branded consumer goods and concept solutions to the grocery, out-of-home and bakery markets in the Nordics, the Baltics and selected markets in Central Europe and India. Orkla is listed on the Oslo Stock Exchange with a market capitalisation of NOK 71bn (€7.5bn) and has its head office in Oslo. In 2014, the Group had a turnover of NOK 30bn (€3.1bn), and around 13,000 employees at year-end.
Managing Partner, Porta Finance
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