Bounty Brands Holdings Limited (“Bounty Brands”) acquires Unitop Group
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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 Unitop Group (“Unitop”), a Polish manufacturer and distributor of sesame-based snacks and other confectionery goods. The acquisition is subject to customary closing conditions and the transaction is expected to close in December 2017.
Unitop’s flagship products are sesame snaps and halva, with a product range that also includes non-sesame based snacks such as cream fudge, wafers and biscuits. Unitop’s market position in Poland is complemented by a broad international presence, including sales across the EU, Australia, North America and the Middle East. Bounty Brands intends to support the further development of Unitop’s product categories in Poland and internationally, especially in the fast-growing healthy snack category.
Unitop employs over 450 staff and owns a production facility in Łódź, central Poland. In the financial year ended December 2016, Unitop generated revenues of more than PLN 170 million.
The transaction marks Bounty Brand’s fourth major acquisition in Poland in the last two years, following last month’s announcement that the company has entered into a pre-sale agreement with Profi, a leading producer of pates and ready-to-eat soups. Both transactions are conditional on approval from the Polish Competition Office (“UOKiK”). Previous acquisitions in Poland include Sonko, the market-leading, value-added rice and healthy snacks business, which was acquired in 2015; and Stella Pack, a major manufacturer and distributer of recycled refuse bags and other non-chemical household products, acquired in September this year.
The addition of Unitop represents the continued expansion of Bounty Brands’ food activities in Central and Eastern Europe (“CEE”), building on a global portfolio of brands that include the key South African brands of 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).
Stefan Rabe, Chief Executive Officer of Bounty Brands, said:
“The acquisition of Unitop continues the expansion of our snack portfolio in CEE. We are looking forward to working with the Group to strengthen its local and international market presence in its existing products, and to use its considerable expertise to launch into newer snacking categories.”
Adam Pietruszkiewicz, Managing Director of Coast2Coast, said:
“We are delighted to have helped facilitate Bounty Brands’ acquisition of this well-known Polish business. We will continue to work with Bounty Brands to pursue investment opportunities in Poland and across CEE and to leverage these to further expand its presence in the region.”
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FTI Consulting LLP
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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
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 Unitop Group
Unitop Group is a manufacturer of sesame snacks based in Poland and consists of two companies – Agros Trading Confectionery S.A. (“ATC”) and Zakłady Przemysłu Cukierniczego “Unitop-Optima” S.A. (“ZPC”). ZPC Optima was established in 1945 and ATC in 1966 as part of Agros Holding. Currently the company is one of the leading producers of sesame snaps in the world. It has a strong position in Poland and a broad international presence (EU, North America, Australia and the Middle East), as well as long standing relationships with distributors. Thanks to its production technology, Unitop is able to offer various forms of sesame based products, including sesame snaps with chia, quinoa and amaranth. The company offer also includes cream fudge, halva, wafers and biscuits. More information: www.unitop-optima.pl; www.agrostc.com.pl