Published: June 23, 2010
Investor takes control of Polish food and drinks business.
Private equity firm IK Investment Partners has bought a majority stake in Agros Nova, a Polish food and drinks business.
IK took control of the Warsaw-based company after agreeing to pay an undisclosed sum to ITR Investment Partners. This is IK’s second deal in Poland after it bought Axtone, a railway components manufacturer, two years ago.
Detlef Dinsel, one of IK’s managing partners, says the firm bought Agros as it has “an excellent track record” and is in a market that is a big part of the firm’s plans. “We continue to believe in the strong regional fundamentals as we seek to consolidate our presence in Central and Eastern Europe.”
Agros specialises in fruit and vegetable preserves, ready-made food and non-carbonated beverages. It has some 2,300 staff and has four manufacturing plants in central Poland supplying retailers around the country. Its brands include Łowicz, Krakus, Elbro and Wloclawek.