MidEuropa Completes the Acquisition of Danube Foods Group
MidEuropa, the leading private equity firm focused on Central Europe and Turkey, announced that it has completed the acquisition of Danube Foods Group BV and Clates Holding BV (together, “Danube Foods Group” or the “Group”). With revenues of more than €400 million in 2014, the Group represents the leading branded FMCG platform across the countries of the former Yugoslavia.
Robert Knorr, Senior Partner of MidEuropa who leads MidEuropa’s consumer investments, commented:
“We are excited about the prospect of unlocking the development potential of Danube Foods Group’s excellent brands. We see this as a first step in the creation of a consumer goods platform with deep regional reach and regional leadership in every category.”
Andrej Babache, Director of MidEuropa, who led the execution of the transaction added:
“We look forward to the substantive opportunity ahead of us – both on the organic and acquisitive growth front – and to working with Andrej Jovanovic and his exceptional management team, to fully realize the Group’s potential.”
Andrej Jovanovic, the CEO of Danube Foods Group, commented:
“With the resources at our disposal – an excellent business, a strong financial partner, and a best-in-class team – we believe that Danube Foods Group will continue to be living proof of the great potential of local brands in the Region and beyond.”
The transaction was executed by Andrej Babache, Ratko Jovic, Berke Biricik and Can Karapence, with White & Case as legal adviser and Unicredit as financial adviser.