Tar Heel's Flavourtec buys GermanFlavours

Tar Heel acquired a 50% stake in Flavourtec in October last year for an undisclosed consideration, via its THC II fund.

Flavourtec is a company producing liquids for e-cigarettes. Five years after inception, the company was reporting annual revenues of more than PLN 20m. The acquisition of GermanFlavours was financed with the support of Tar Heel, the company said in a statement.

The bolt-on will add to the company's two existing facilities in Gdańsk, Poland. At the beginning of 2018, Flavourtec also acquired a distributor in the Benelux region, now operating under the name of Flavourtec BBVA.

Flavourtec stated that the acquisition would allow it to establish a presence in one of Europe's largest markets, further strengthening its position on the continent; it is also not excluding further bolt-ons in the region. The company estimates the global value of the e-cigarette market at $10bn.

Company
GermanFlavours is an e-liquid manufacturer and accessories distributor, based in Germany. It operates two plants in the country and is also present in the rest of Europe and the US. It was founded in 2012.

People
Flavourtec – Bartosz Rączkowiak (general director).

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• Topics
• Expansion
• CEE
• DACH
• Consumer
• Poland
• Germany
• Build-up