Maspex Wadowice Group, one of Poland’s largest beverage and food companies, has bought the assets of Agros Nova Group, one of the country’s leading food manufacturers. The transaction was recently approved by the Office of Competition and Consumer Protection (UOKiK / Urzad Ochrony Konkurencji i Konsumentow).
The Agros Nova acquisition is Maspex’s 17th, the largest in the company’s history and one of the largest completed to date in Poland. The deal will reportedly create a major food manufacturing group with turnover of more than 4 billion PLN ($1 billion).
The acquisition will also expand Maspex’s brand offer and increase the company’s category footprint. Existing company brands such as Tymbark, Kubus, Lubella, Puchatek, Ekland, DecoMorreno, Cremona, La Festa and Plusssz will be joined by other major brands such as Lowicz, Krakus and Kotlin.
Maspex is the market leader in Poland in many food categories. According to reports, the transaction will “increase the scale and position of the business, allowing it to achieve cost and operational synergies, which will be beneficial to both companies”.
Source: Portal Spozywczy