Mid Europa acquires Danube Foods Group

Danube's main market is the states of the former Yugoslavia, where it owns a number of subsidiaries, including producers of dairy products, confectionary and beverages.

In March 2014, local and international media reported that Danube was a target for KKR, which had bought Mid Europa's SSB/Telemach cable and ISP group one year earlier.

Mid Europa's acquisition is expected to be finalised in the first half of 2015 and will see the GP take majority stakes in Danube Foods Group and Clates Holding, which form the overall entity Danube Foods Group.

Company
Although the holding company is headquartered in Amsterdam, Danube Foods Group consists of a number of food producers based in the former Yugoslavian Republic, including Serbia.

Its main market is the states of the former Yugoslavia, including Serbia, Bosnia, Macedonia and Montenegro.

Among its subsidiaries are dairies Imlek and Mlekara Subotica, confectioner Bambi, and Knjaz Miloš, a Serbian producer of mineral water and other non-alcoholic beverages.

Danube had revenues of more than €400m in 2014.

People
Robert Knorr is a senior partner at Mid Europe and worked on the deal alongside Mid Europa director Andrej Babache.

The GP's Ratko Jovic, Berke Biricik and Can Karapence also worked on the transaction.

Advisors
Equity - White & Case (Legal); Unicredit (M&A).

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• Topics
• CEE
• Consumer
• Buyouts
• Benelux
• Secondary buyout
• Netherlands
• Serbia
• Mid Europa Partners
• Unq2015Mar