July 2017

Closing the investment in Delicpol Group

Together with Ardian, an independent, private investment firm,we sold a stake in Delicpol, a leading Polish biscuit producer. The shares were acquired by a strategic Dutch investor Continental Bakeries.

Delicpol was established in 1992 and today is a leading producer of Jaffa cakes. The company produces cookies, dry biscuits, cocktail biscuits and gingerbread. In addition to its own brands, Delicpol is a significant contract supplier for leading retailchainsin Poland and Europe.

Thanks to our investment, Delicpol Group consolidated the market, diversified its portfolio, and integrated and implemented modern management systems. It also doubled its exports, now accounting for 30% of total sales. Delicpol invested more than PLN50 million in production automation and increased efficiency.

Delicpol has an annual turnover of EUR58million and 950 employees.

Its major products are Jaffa cakes, sponge cakes, ginger bread, and innovative health cookies. Delicpol is the leading producer of private label biscuits in Poland and a significant player in the CEE region.

Increasing our stake in Golpasz S.A.

In accordance with an earlier agreement, we bought additional shares from the minority shareholders and increased our stake in Golpasz S.A. from 67 per cent to 85 per cent. We have been an investor in Golpasz S.A. since December 2015.

Kent Orrgren at the European Health and Fitness Forum in Cologne

Kent Orrgren, CEO at World Class, performed at the European Health and Fitness Forum in Cologne. The 5th annual event brought together top experts from different sectors of the industry and over 400 delegates from 34 countries to discuss human capital in the European fitness sector.