September 2013

Delicpol acquires Cuprod

Delicpol acquires Cuprod with the support of Resource Partners and AXA Private Equity

Warsaw, Paris, September 3, 2013. Delicpol, a leading Polish confectionery company, announces today that it has acquired Cuprod, a Polish confectionery manufacturer, with the support of its shareholders AXA Private Equity, the leading European diversified private equity firm, and Resource Partners, a consumer-focused investor in Central and Eastern Europe (CEE).

The transaction has been completed one year after AXA Private Equity and Resource Partners acquired the business, and forms part of the growth strategy for the business set-up alongside the management team. The merger will provide market consolidation and create a significant player in the European confectionery market.

Established in 1992, Delic-Pol is a leading Polish confectionery company which specializes in biscuit manufacturing. Since its inception, the company has grown from a small business to a significant regional player with over 700 employees.

Ryszard Wojtkowski, Managing Partner of Resource Partners, added: “Consolidating this fragmented market is an important part of our investment strategy. We are open to further acquisitions in Poland or the entire CEE region.”

Dominique Gaillard, Member of the Executive Board Managing Director of AXA Private Equity, said: “The transaction will significantly strengthen the market position of the merged companies and enable the sharing of best practices to generate significant revenue synergies, broaden product offerings and further improve customer service. We look forward to supporting the company as it continues its development.”

The merged companies will be managed by the current CEO of Delicpol, Mr Tomasz Grzybowski. Founders and board members of Cuprod will remain as managers in the group.

AXA Private Equity and Resource Partners established a strategic partnership in CEE in May 2010.

Parties involved
AXA Private Equity: Dominique Gaillard, Frédéric Collard, Marton Hunek

Resource Partners: Ryszard Wojtkowski, Przemysław Rączka, Dominik Smykla

Resource Partners
Dominik Smykla

Resource Partners Sp. z o.o.
ul. Mokotowska 1
00-640 Warszawa, Poland

Tel. +48 22 377 7900

AXA Private Equity
The HeadLand Consultancy

Ben Girdlestone /
Daniel Kahn
+44 20 7367 5243
+44 20 7367 5247


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