Bounty hunts down another deal in Poland
Bounty Brands, the acquisitive fast-moving consumer goods conglomerate with medium-term listing ambitions, has clinched another deal in Poland.
On Tuesday, it announced the acquisition of the Unitop Group, a Polish manufacturer and distributor of sesame-based snacks and confectionery goods. This is the fourth transaction Bounty has clinched in Poland in the past two years.
It follows hard on the heels of an announcement in October of a pre-sale agreement with Profi, a producer of pâtés and ready-to-eat soups.
Previous acquisitions in Poland include Sonko, a rice-based products and healthy snacks business in 2015, and Stella Pack, a manufacturer and distributor of recycled refuse bags and other nonchemical household products in September 2017.
Unitop’s market position in Poland was complemented by an international presence, including the EU, Australia, North America and the Middle East, said Bounty CEO Stefan Rabe. Bounty would support further development of Unitop’s product categories in Poland and internationally, especially in the fast-growing healthy snack category, he said.
In the financial year ended December 2016, Unitop generated revenues of R680m.
Bounty is controlled by Cape Town-based investment house Coast2Coast. Bounty’s operations span the local and international food and apparel sectors, as well as the personal and home care segments.
Bounty’s brands include Table Charm, Tuffy, Goldenmarc, Sea Queen, Annique, Serena, Essence Cosmetics and Liberty Select.
Coast2Coast is best known for its role in forming and subsequently listing healthcare brands conglomerate Ascendis on the JSE.
Bounty has previously signalled an intention to secure a primary listing on an international bourse — most likely the London Stock Exchange — as well as a secondary listing on the JSE.