Mid Europa acquires Hortex

The GP intends to support the business with new product development and expansion, as well as add-on acquisitions.

Mid Europa is currently investing from its Mid Europa IV fund. The vehicle held a final close on €800m in August 2014, also benefiting from a €650m pre-allocated co-investment programme that allows its 25 LPs to invest directly alongside the fund. The fund invests in companies with enterprise values of up to €500m, with an average equity ticket of €75-250m.

Previous funding
Argan Capital, a spinout from Bank of America, acquired the Warsaw-based frozen food and juice provider in December 2006 from the private equity arm of Bank of America, BACP, for an undisclosed amount. Bank of America provided development capital to Hortex in 1997.

Company
Established in 1958, Hortex is headquartered in Warsaw and provides frozen food and fruit juices. It also sells vegetable juices and mixes, soft drinks, light fruit drinks, and ready-meals. The company exports its products to the Russia, Slovakia, Ukraine, Latvia, Estonia and Belarus.

People
Mid Europa – Pawel Padusinski (partner).

Advisers
Equity – Vienna Capital Partners (M&A); Clifford Chance (legal); OC&C (commercial due diligence); PwC (financial due diligence, tax); Ramboll Environ (environmental due diligence).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• Consumer
• CEE
• Poland
• Mid Europa Partners