Bounty Brands, owned by the Coast2Coast fund, will acquire Profi, a manufacturer of ready-to-eat foods based in Wielkopolska. PwC Legal was advising to Profi during the sales process. The transaction still requires approval from the Office of Competition and Consumer Protection.
Profi is the leading manufacturer of ready-to-eat foods in Poland. The company has been in the market since 1993. It offers various products in more than ten categories including: pates, canned meat, soups and ready-to-eat meals – such as instant soups or lunch salads – which is a very fast-growing segment. The company operates a manufacturing plant in Grabów nad Prosną, and it currently employs more than 300 people.
In October, Bounty Brands, owned by Coast2Coast, an investment fund based in South Africa, applied to the Office of Competition and Consumer Protection for the approval of its intention to acquire total control over Profi companies. It is another Bounty Brands’s acquisition in Poland in the last two years. Previously, the company acquired two targets: Sonko and Stella Pack.
PwC Legal was advising to Profi in the process of its acquiring by Bounty Brands. Both legal and tax consultancy services were provided including preparation of comprehensive documentation for the transaction and provision of negotiation support. The project team on the part of PwC Legal consisted of: Jacek Pawłowski, Beata Kiedrowicz, Ewa Derkacz-Smolna and Marta Gocał. Jacek Jarosz, Dorota Wolna and Mikołaj Kondej were responsible for tax consulting.
CMS Cameron McKenna was the legal adviser to Coast2Coast.