Resource Partners sells Melvit to Polfood

Under the GP's tenure, the company's revenues doubled from €20m to €40m and its EBITDA quadrupled from €2m to €8m, according to a source close to the situation.

Melvit completed one bolt-on transaction with the purchase of Lithuanian cereal brands Granum, Granum Extra and Le Chef. The Le Chef brand is still used while Granum has now been integrated into other brands.

The company also opened a modern grain processing plant, specialising in niche grains such as buckwheat, barley and millet.

Acquirer Polfood comprises food distributor SPS Handel and meat processor Zaklady Miesnse Pekpol, with combined revenues of PLN 502.4m.

Previous funding
In November 2010, Resource Partners invested PLN 30m for a minority stake in Melvit. The funds were earmarked for increasing production capacity and modernising facilities, as well as for strategic acquisitions in Poland and central Europe.

Company
Established in 1998 and based in Ostroleka, Melvit is a Polish bulk producer and distributor of grain-based products. Among the company's products are cereals, buckwheat, flour, rice and groats. Melvit products are distributed across Poland in retail and wholesale locations. The company posted revenues of PLN 154.9m in 2015 and a net profit of PLN 9m.

People
Resource Partners – Piotr Noceń (managing director).
Polfood Group – Piotr Szczęsny (shareholders representative).

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• Topics
• Exits
• CEE
• Consumer
• Poland
• Lithuania
• Resource Partners Sp. z o.o.
• Trade sale