Global Finance's Growth Fund invests in Royal Potatoes
GLOBAL FINANCE is happy to announce that it has concluded the Management Buy-Out (MBO) of ROYAL POTATOES a Bulgarian manufacturer and wholesaler of frozen potatoes. Following the acquisition and a subsequent share capital increase, Global Finance's Growth Fund shall maintain a majority stake in the company.
ROYAL POTATOES currently operates a 10,000 tones/year processing facility in Samokov, south of Sofia. It offers a full range of frozen products in the Bulgarian market, where it commands a 40% market share. ROYAL POTATOES plans selective investments in equipment in order to improve efficiency and ensure quality. Most importantly the company plans to strengthen its commercial capabilities in Bulgaria and to initiate exports in neighboring markets.
ROYAL POTATOES is the Growth Fund’s second investment in Bulgaria. The Euro 20 million Growth Fund targets fast-growing companies in Bulgaria and Romania and supports dynamic entrepreneurs and management teams. The EBRD, the European Commission, the Bulgarian Post Bank and Doverie Capital are amongst the fund’s key investors. The European Commission’s participation is through the SME Finance Facility Special Fund, which is administered by the EBRD.
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