Merger creates Polish food behemoth

The merger, which was approved by the consumer and competition protection body UOKiK in May, creates a food business with turnover of PLN 4 billion (about EUR 1 billion).

Maspex is the owner of well-known brands in Poland such as Lubella pasta and Tymbark fruit drinks.

Maspex also bought Agros Nova’s brands Łowicz, Krakus, Kotlin, Włocławek, Fruktus, Tarczyn and Dr. Witt and will take over two production plants, in Łowicz and Wąsosz.

“The transaction value is not disclosed,” Maspex spokeswoman Dorota Liszka said.

“Agros Nova is arguably one of the most powerful food companies in the country, which will bring huge achievements for our company - valuable and strong brands and a professional team that has developed such a good market position of the company,” Liszka said.

For Maspex this is the 17th and largest acquisition in its history.

Agros Nova is the market leader among the market ketchups, jams, sauces, and soups and concentrates. In turn, the Maspex

The Wadowice Group is known for its juices, nectars and drinks, which account for 70 percent of the company’s turnover, as well as pasta, cereal products and instant products giving 30 percent sales revenues, which in 2014 totaled more than PLN 3.3 billion.

Media reports suggest that Agros Nova will also sell the Fortune, Pysio and Garden brands. (jh)