Closing the investment in Melvit
We sold aminority stake in a leading Polish grain processor Melvit to the company's majority owner, who will regain the full control of the business.
Melvit is the leading Polish manufacturer and distributor of groats, flakes and other grain products sold under several brands, such as ‘Melvit’, ‘Szczytno’ and HoReCa-dedicated ‘LeChef’, as well as under private labels. Since 2015 the company has operated one of Europe’s most modern grain processing plants. It offers the highest standards of product quality assurance, production efficiency and flexibility. Melvit is owned by Polfood, a Polish family office, specializing in food processing.
During Resource Partners involvement, Melvit became a leader on the Polish market, doubling sales and quadrupling EBITDA. In 2011, Resource Partners supported Melvit's founders in their efforts to modernize the company through a capital increase to finance the construction of a new production facility.
“We are happy to sell our shares as we achieved our investment goals. Melvit has a leading position on the Polish healthy food market and a high-quality asset base. It continues togrow and is pursuing further growth opportunities abroad. The strategy presented by our majority partner upon our entry proved to be the right one and Melvit’s highly capable management team executed it perfectly,” said Piotr Noceń, Managing Partner of Resource Partners.
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, 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.