Enterprise Investors buys remaining stake in Pan-Pek

The GP is investing from Polish Enterprise Fund VII, and has acquired the remaining 35% in the company, having bought a 65% stake in the company in May 2018.

The value of the transaction was not disclosed. The fund, which held a first and final close in 2017 on €498m, typically commits €20-75m per investment.

The GP, active since 1990, has raised nine funds with total capital exceeding €2.5bn, and invested €2bn in 144 companies across a range of sectors. In that time it has exited 134 companies with total gross proceeds of €4.1bn.

The transaction completion is subject to approval from regulatory authorities.  

Company
Founded in 1992 and based in Zagreb, Pan-Pek is a producer of frozen bakery products. The company serves grocery retailers in Croatia and operates its own 65-store chain of bakery outlets, mainly in the Zagreb area, but also in other locations along the Adriatic coast. 

The company generated €36m in revenues in 2019 and employs more than 500 staff, according to LinkedIn.

People
Pan-Pek – János Király (CEO).
Enterprise Investors – Michał Kędzia (partner).

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• Topics
• Buyouts
• CEE
• Consumer
• Enterprise Investors
• Croatia
• Mid-market buyout