Middle-market private equity firm Highlander Partners has acquired a 60 percent majority stake in Polish food company QFG, leaving its founders with a 40 percent share.
The US firm’s portfolio includes investments in US and Central European light manufacturing and food and beverage products, as well as business and industrial services.
The additional financing from the buyout will go to to create a third production plant and new production process technology, according to a press release.
QFG said that in light of the transaction, it expects to double its production capacity and achieve a 70 percent increase in revenue this year. That would mean revenues of 200 million zloty ($50 million; £46 million), up from 117 million zloty last year. The company has said it expects to grow on the back of increased demand for its products across Europe.
“The convenience food market in Poland and the European Union has been growing at a single-digit pace. Our realistic medium term goal is the double-digit increase of our company,” said QFG founder and president Jaroslaw Krzyzanowski.
QFG produces pre-cooked poultry, beef, pork and mutton for retailers and the restaurant, hotel and café industry. The company makes 20 percent of its sales in Poland, and the rest to Europe.
“We have just become partners with a well-developed and competitive company, which requires capital and an experienced partner to grow further,” said Maciej Rybicki, Highlander’s operating partner leading the investment, in a press release.
Highlander manages assets of over $1 billion, and has offices in Dallas and Warsaw. The firm’s latest transaction comes just a few days after Highlander exited two investments in the country; power transformer manufacturer ZREW Transformatory and Polish healthcare provider Medi-system.