Mid Europa Partners buys Danube Foods Group

Mid Europa Partners has signed an agreement on the acquisition of Danube Foods Group (DFG).

Source: Tanjug

DFG owns Serbian dairies Imlek and Mlekara Subotica, and Bambi and Knjaz Milos companies.

Mid Europa also bought all Imlek dairies operating in Macedonia, the Serb Republic (RS) and Montenegro.

The transaction is to be executed in the first half of 2015, after the terms and conditions of the agreement are met. The financial details of the transaction have not been made public.

"The acquisition of Danube Foods shows our determination to continue to support the development of leading companies in Serbia and the region," said Robert Knorr, senior partner of Mid Europa responsible for investments in South East Europe.

With the total turnover exceeding EUR 400 million in 2014, Danube Foods Group is a leader in the Serbian and the regional markets for milk and dairy products, confectionery, mineral water, and energy drinks.

The group also exports its products to the markets of Western Europe.

Mid Europa Partners is a London-based investment fund with offices in Budapest, Istanbul and Warsaw.

Since its foundation in 1999, Mid Europa Partners has managed funds totaling EUR 4.2 billion.

One of the fund's high-profile investments in the region is cable TV and internet operator SBB/Telemach Group, which was sold in October 2013 to Kohlberg Kravis Roberts (KKR), a leading global investment firm based in the U.S.

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Business & Economy Friday, February 27, 2015 16:03 Comments: 1
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