Czech billionaire, and the country’s finance minister, Anrej Babis, is expanding his investments in Poland’s food sector. According to Jozef Janov, managing partner at Babis’ investment fund, Hartenberg Capital, Babis is seeking to invest an additional CZK1 billion (US$39.5 million) to acquire Polish assets in the country’s health food industry.

Earlier this year, Babis’ investment fund acquired Polish rice and corn cake company, Good Food for CZK1 billion (US$39.5 million), and is currently investing a further CZK100 million (US$4 million) to integrate new production lines at the company’s Poznan location. In addition, over the next two years, Babis, who is viewed as a possible future Czech prime minister, plans to invest another CZK200 million (US$8 million) into the company.

 

In recent years, scandals regarding meat, salt, and alcohol have caused tensions between Warsaw and Prague, and Mr. Babis, who heads the ANO party, has spoken out against cheap Polish food imports entering the Czech Republic. However, Mr. Babis’ interest in investing in Poland’s health food sector is still reported to be strong despite experiencing setbacks doing business with Polish interests in the past.

 

Meanwhile, Mr. Babis’ investments in Good Food and plans for other acquisitions, make it unlikely that Hartenberg Capital will pursue the acquisition of Czech food company, Hame, according to Czech newspaper, Hospokarske Noviny. Hartenberg had been rumored to be a rival bidder against China’s CEFC for the pate producer, which has been valued at CZK4.5 billion (US$177.75 million).