Bounty Brands Holdings Limited (“Bounty Brands”) acquires Profi

26 October 2017Press Release

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN

Bounty Brands, the fast moving consumer goods business with a portfolio of leading brands that are sold in over 40 countries, announces the acquisition of Profi, Poland’s prominent producer of pates and ready-to-eat soups.

Profi’s market share in ambient pates and soups is complemented by its presence in the the fast-growing healthy food categories such as chilled ready meals, fresh soups and lunch salads. Bounty Brands intends to accelerate Profi’s growth in these categories with the support of the current management and employees.

The company employs over 300 staff and operates from a modern production facility in Grabów nad Prosna in central Poland. In 2016, Profi generated revenues of over PLN 115 million.

The addition of Profi represents a further expansion of Bounty Brands’ Food activities in Central and Eastern Europe (“CEE”) and is the third major acquisition made in Poland in the last two years. Bounty Brands’ previous acquisitions in the country have included: Sonko, the market-leading, value-added rice and healthy snacks business; and Stella Pack, a major manufacturer and distributer of recycled refuse bags and other non-chemical household products.

The addition of Profi also represents a further expansion of Bounty Brands’ foods activities globally, which includes key South African brands such as Serena (olive oil, balsamic vinegar and other Mediterranean cuisine products), Liberty Select (canned fruits and vegetables), Offenau (gherkins and other pickled vegetables) and Sea Queen (canned fish products).

The transaction is conditional on approval from the Polish Competition Office (“UOKiK”).

Stefan Rabe, Chief Executive Officer of Bounty Brands, said:
“Profi is a prominent food brand in Poland, having established a leading market position over the past 24 years. This acquisition significantly strengthens our presence in foods in a key CEE market and provides a excellent platform for future growth. ”

Jerzy Koszarny, CEO of Profi said:
“In a world where high quality food is becoming more difficult to find, Profi remains faithful to traditional recipes and high quality ingredients, gaining the trust of an increasing number of consumers. We expect Bounty Brands to open up new prospects regarding Profi’s development in new markets and product categories”.

The information contained herein is not for release, directly or indirectly, in or into the United States of America, Australia, Canada or Japan. This document (and the information contained herein) does not contain or constitute an offer of securities for sale, or solicitation of an offer to purchase securities, in the United States, Australia, Canada or Japan or any other jurisdiction where such an offer or solicitation would be unlawful. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (“Securities Act”), and may not be offered or sold in the United States  unless the securities are registered under the Securities Act, or an exemption from the registration requirements of the Securities Act is available.  No public offering of the securities will be made in the United States.

The information contained herein is not for release, directly or indirectly, in or into the United States of America, Australia, Canada or Japan. This document (and the information contained herein) does not contain or constitute an offer of securities for sale, or solicitation of an offer to purchase securities, in the United States, Australia, Canada or Japan or any other jurisdiction where such an offer or solicitation would be unlawful. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (“Securities Act”), and may not be offered or sold in the United States  unless the securities are registered under the Securities Act, or an exemption from the registration requirements of the Securities Act is available.  No public offering of the securities will be made in the United States.Statements contained herein may constitute “forward-looking statements”. 

Forward-looking statements are generally identifiable by the use of the words “may”, “will”, “should”, “plan”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “project”, “goal” or “target” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements involve a number of known and unknown risks, uncertainties and other factors that could cause the Company’s or its industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. The Company does not undertake publicly to update or revise any forward-looking statement that may be made herein, whether as a result of new information, future events or otherwise.

Contacts:
FTI Consulting LLP
Edward Bridges/Nick Hasell (London) + 44 207 727 1000
Max Gebhardt/Caroline Parker (Johannesburg) + 27 11 214 2400
Anna Krajewska/Piotr Wojtaszek (Warsaw) +48 (22) 826 74 18

About Bounty Brands
Bounty Brands is a fast moving multi-national consumer goods company with a portfolio of leading brands that are sold in over 40 countries, mostly in the Southern African and Central & Eastern European regions. Its brands span a number of consumer sectors with the main focus being food, apparel and personal & home care. For more information, visit www.bb.co.za

About Coast2Coast
Coast2Coast, a controlling shareholder in Bounty Brands, is a private investment company with offices in Warsaw, London, Malta, Johannesburg, Cape Town, Sydney and Melbourne. It is a value investor, using their own capital to finance investments. Coast2Coast achieves its vision by taking a semi-active ownership role in its portfolio of companies, and creating value for shareholders by partnering with management teams in order to improve strategic, operational and financial performance. For more information visit www.c2c.co.za.

About Profi
Wielkopolska Wytwórnia Żywności Profi was established in 1993. Since its inception, Profi’s offer has been gradually expanded with new product categories in response to the changing market demand. Today Profi is not just pates, but also a dozen other categories: soups and ready meals, instant soups, lunch salads, sandwiches and hummus. All products are based on traditional recipes and are made of quality meats, vegetables and spices. Thanks to the modern technology, they retain their freshness and full flavor and nutrition attributes. Modern production technology, safe packaging and numerous awards have resulted in Profi gaining more and more trust and recognition of consumers both in Poland and abroad. Profi is the winner of 10 consumer awards. In 2012, the company was awarded a Golden Certificate of Charity for its social activities. More information: profi.com.pl

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