IK Investment Partners’ IK 2007 Fund has announced an agreement to sell its remaining stake in the fruit and vegetable company, Agros Nova Group to leading Polish dairy company, Polmlek Sp. z.o.o. (Polmlek Group).

 

Warsaw-based Agros Nova is an industry leader in all three segments of its business – fruit and vegetable preserves, ready-made food products, and non-carbonated beverages. The bulk of the remaining interests in the business being sold by IK is represented by the non-carbonated beverages segment, which includes the brands Fortuna and Garden and Pysio, and a production plant located in Tymienice, Poland.

 

IK originally acquired Agros Nova in 2010, and has since strengthened the company’s standing in its product categories through the re-launch of key brands, the reorganization of its sales operations, and product innovations.

 

In December 2014, IK agreed to sell the majority of Agros Nova, including its ready-made food and preserves businesses, two factories and two non-carbonated beverage brands to Maspex-GMW Sp. z.o.o. Sp. k. (Maspek), a major food and beverage group operating in Central and Eastern Europe markets. Final regulatory approval for the deal was obtained in May of this year.

 

“After reaching an agreement with Maspex, we searched for a suitable investor for the non-carbonated beverages business,” said Detlef Dinsel, managing partner at IK, in a press release. “Looking at Polmlek’s development history as well as determination of the owners, we believe we are handing over the Tymienice plant, brands and organization into the good hands of the Polish entrepreneurial capital.”