U.S.-based middle market private equity firm, Highlander Partners, announced it has acquired a majority stake in Polish supplier of meat products to the convenience food sector, QFG, for an undisclosed amount, according to a company statement. Under the terms of the buyout, Highlander, which invests across North America and Central Europe, will acquire 60% of the company, while QFG’s founders will retain the remaining 40%.

 

Founded in 2000, QFG produces ready-to-eat and pre-cooked meat products including poultry, beef, and mutton-based foods, which it supplies to retail re-sellers. Twenty percent of the company’s sales are made domestically in Poland, and the remaining 80% are made throughout Europe.

 

The capital gained by QFG through the deal will be utilized to finance the development of the company’s third plant in central Poland, and to strengthen the company’s production abilities through the integration of advanced technologies in the company’s production processes.

 

As demand for its products continues to climb, Jaroslaw Krzyzanowski, founder and president of QFG explained that “Customers in Europe, Poland included, expect us to produce more. The recent investment from Highlander Partners will help QFG to significantly increase our production capacity and satisfy this demand. With the transaction closed today, apart from the new capital needed at this stage, we have gained a trusted partner, with whom we will build a value adding strategy for the business we founded.”

 

QFG reported 2015 revenue of PLN 117 million (US$29 million), with expectations that revenue for 2016 will increase to reach PLN 200 million (US$50 million).

 

Within Poland, and the EU as a whole, the convenience food market has seen single digit increase in growth, and according to Mr. Kyzyzanowski, QFG has set a goal to achieve double digit company growth within the sector.

 

“We are amazed by QFG’s expansion up to date. It stems from the company’s unique openness to customer needs,” said Maciej Rybicki, Operating Partner at Highlander Partners who led the investment. “We applaud the innovative approach to business of the founders, who follow best practice and the latest technologies in the global food market, and constantly introduce changes in the company.”