Business & Economy | February 3, 2015 | 15:47
Danube Foods Group sold for EUR 575 million
BELGRADE — The London-based investment fund Mid Europa Partners has acquired Danube Foods Group (DFG) for EUR 575 million, the two companies announced on Tuesday.
Danube Foods Group gathers Serbian companies that conduct business in the dairy product sector, including Imlek, Mlekara Subotica, confectionery manufacturer Bambi and mineral water and soda plant Knjaz Milos, as well as the dairies owned by Imlek in Macedonia,the Serb Republic and Montenegro.
The transaction was performed by European Bank for Reconstruction and Development (EBRD) and leading European banks including UniCredit, Raiffeisen, ING, BNP Paribas and Citibank, as well as the local partner Andrej Jovanovic, DFG Director of Corporate and Regulatory Affairs Svetlana Glumac stated.
Glumac said that the transaction should be closed in the first half of the year, after the conditions of the sale contract have been met.
Mid Europa Partners is a leading investment fund focused on Central and Eastern Europe and it has a seat in London, with representative offices in Budapest, Istanbul and Warsaw. Since its foundation in 1999, the company had total capital of EUR 4.2 billion.
The fund became known in Serbia and the region for the creation of the leading cable and internet operator SBB-Telemach Group which it sold to the U.S. investment fund Kohlberg Kravis Roberts in October 2013.
„With over EUR 400 million of turnover in 2014, DFG is the Serbian and regional leader in the milk and dairy product market and sale of confectionery products and mineral water and energy drinks which it exports to the Western European market,“ Tanjug reported.