M&A Deal Summary

Bel Acquires Shostka City Milk Plant

On May 1, 2007, Bel acquired food company Shostka City Milk Plant from Horizon Capital

Acquisition Highlights
  • This is Bel’s 1st transaction in the Food sector.
  • This is Bel’s 1st transaction in Ukraine.

M&A Deal Summary
Date 2007-05-01
Target Shostka City Milk Plant
Sector Food
Buyer(s) Bel
Sellers(s) Horizon Capital
Deal Type Add-on Acquisition

Target

Shostka City Milk Plant

Shostka, Ukraine
In May 2007, EEGF sold its controlling stake in Shostka City Milk Plant ('Shostka') to French Fromageries Bel S.A., achieving a gross 5.9 times cash-on-cash return and 470% IRR. During the life of its investment, EEGF focused efforts on improving product quality, access to the region's raw material base (milk), and strengthening Shostka's brand portfolio and distribution within Ukraine. Shostka's excellent reputation, strong management, and high product quality formed an inviting platform for strategic investor French Fromageries Bel S.A.

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Buyer(S) 1

Buyer

Bel

Suresnes, France
Category Company
Founded 1865
Sector Consumer Services
Employees12,510
Revenue 3.5B EUR (2020)
DESCRIPTION

Bel through its subsidiaries, is engaged in the creation, production, and sale of branded cheeses in France and internationally. It offers its products under 5 core brands, including The Laughing Cow, Mini Babybel, Kiri, Leerdammer, and Boursin, as well as under approximately 25 local brands. Fromageries Bel was founded in 1865 and is based in Suresnes, France.

DEAL STATS #
Overall 1 of 4
Sector (Food) 1 of 4
Type (Add-on Acquisition) 1 of 4
Country (Ukraine) 1 of 1
Year (2007) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-29 Groupe Mom

Paris, France

Groupe Mom is a Paris based provider of healthy snacks, fruit pouches, and squeezable applesauce.

Buy -

Seller(S) 1

SELLER

Horizon Capital

Kyiv, Ukraine

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2006
PE ASSETS 1.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Horizon Capital is a private equity fund manager that targets investments in mid-cap companies with rapid growth and profit potential in Ukraine and Moldova. The firm seeks to invest between $5 million to $20 million per transaction. Horizon Capital uses investment proceeds primarily for expansion and buy-out opportunities in core industries that serve the emerging middle class. These industries include financial services, fast-moving consumer goods (FMCG), retail, manufacturing, and other select sectors. Horizon Capital has offices located in Chisinau, Moldova; Kyiv, Ukraine, and Chicago, Illinois.

DEAL STATS #
Overall 1 of 9
Sector (Food) 1 of 2
Type (Add-on Acquisition) 1 of 5
Country (Ukraine) 1 of 5
Year (2007) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-12-13 FinComBank JSC

Chisinau, Moldova

FinComBank JSC is a provider of financial services particularly in SME lending, debit/credit cards, and money transfer to over 70,000 clients through 14 branches and 21 representative offices. FinComBank was founded in 1993 and is based in Chisinau, Moldova.

Buy -
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