Kofola ČeskoSlovensko has signed an agreement with Polish mineral water producer ZMB Capital for the sale of a 100% stake in Hoop Polska.
Hoop Polska is a producer of non-alcoholic beverages, which operates two production plants in Poland (in Kutno and Grodzisk Wielkopolski) and employs about 400 people.
The deal is valued at around €13 million.
Under the terms of the deal, ZMB will take over the entire business, including the Kutno production plant, trademarks for key brands, employees, and distribution networks.
However, the transaction does not include the closed production plant in Grodzisk Wielkopolski and the Grodziska Mineral Water trademarks.
Several conditions on both sides still need to be met, and approval from the antitrust authority is also required before the transaction is completed.
Anticipated Sale
The divestment of Hoop Polska was anticipated by Kofola in its results for the first nine months of 2018, which indicated that revenue for the brand grew in all markets, except in Poland, where effects on the group’s EBITDA decreased to 0.7% (from 2.8% in the first nine months 2017).
The non-alcoholic beverage producer and distributor estimates that the sale of Hoop Polska will result in a 14% decrease in Kofola Group sales, but will have a positive effect on EBITDA performance.
Kofola ČeskoSlovensko will still retain a presence on the Polish market through Premium Rosa, a premium segment brand that produces high quality natural products such as syrups, juices and jams.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine.
