March 2021

RP agrees exit from Maczfit achieving 3.6x cash return and 70% IRR

On 8 March 2021, Żabka Polska sp. z o.o. and the owners of Maczfit, the leader of the dietary catering market in Poland, announced the execution of an acquisition agreement incorporating Maczfit under the Żabka Group’s structure. After Resource Partners exiting the company, Żabka will become the majority shareholder of the company. Its founder, Maciej Lubiak will further support Maczfit in his role as CEO.

The transaction confirms Resource Partners’ ability to support Central European market leaders in the consumer space in their growth. Since the original investment in December 2018, Maczfit has been able to more than double its sales and quadruple its EBITDA, by expanding its production capacity, broadening the firm's product offer and maintaining its innovation leadership in the sector. Maczfit was founded in 2015 by the visionary creator, sportsman, restaurant owner and entrepreneur, Maciej Lubiak. The founder and minority shareholder will remain involved as CEO.

The acquisition of Maczfit represents another stage of the Żabka Group’s development process. First, Żabka, already a leader in modern convenience, is focused on making consumers' lives easier by saving their time and protecting their health. And further, integration of new e-commerce solutions contributes to building an ecosystem of solutions for consumers that can be realized at any moment of their everyday lives.

 “I am overjoyed that Żabka will become the new majority shareholder of Maczfit Foods sp. z o.o. I would like to emphasize that over the last two years Maczfit has rapidly increased the scale of its business, entering new markets and expanding its modern offer. Our investment enhanced production capacity, increased employment and significantly improved the company's profitability. Joining Żabka, the leading Polish commercial group, will allow Maczfit to maintain its excellent growth rate” – said Piotr Noceń, co-founder and Managing Partner of the Resource Partners fund.

“We are glad that the Żabka Group recognized our potential and thanks to its ecosystem we will be able to offer our services to even more customers. We are already the leader of the dietary catering market in Poland, and Żabka's decision will make our development even faster in the coming years. Our mission is to support healthy food choices of the Polish people. Żabka, as a company promoting sustainable lifestyles, is our obvious partner” – said Maciej Lubiak, the CEO of Maczfit.

“Inclusion of Maczfit in the Żabka Group constitutes an element of our long-term development strategy in the convenience area, ensuring an efficient response to the needs of millions of our customers. The new organizational structure announced at the beginning of the year will allow us to expand the scope of our activities to cover new areas, such as dietary catering, operated by Maczfit” - says Tomasz Suchański, President of the Management Board and CEO of the Żabka Group.

“We are systematically expanding our products and services in the area of digital solutions for our customers, representing the present and future of our retail business. The offer of Maczfit is complementary to the existing Żabka ecosystem based on Żabka's modern convenience model. Proximity and convenience, as well as solutions matched to customer expectations, are in its DNA” – commented Tomasz Blicharski, Executive Vice President of the Management Board and Managing Director of Żabka Future.

The acquisition agreement of Maczfit by the Żabka Group was signed on 5 March 2021. The shares will be purchased from the acquired company’s owners: Resource Partners and Maciej Lubiak, the founder and the CEO of the company. The transaction is subject to the antitrust approval.

Maczfit Food sp. z o.o. shareholders were advised by: Fidea and Gide law firm.

 

RESOURCE PARTNERS

Resource Partners is an independent private equity investment company, founded in 2009 by a team of experienced managers who previously conducted similar investments in leading regional and international financial institutions and funds. So far, Resource Partners have invested almost EUR 300 million in the development of several medium-sized companies in Poland and other Central and Eastern European countries.

Resource Partners is the only representative of the private equity sector in the region, specializing in investments in the consumer goods and services sector. It has extensive experience, especially in the area of food processing and production, documented by numerous successful investments. Resource Partners funds invest in rapidly developing companies with experienced management, and support them with its expertise in managing rapid organic growth, dynamic foreign expansion, and acquisitions.

 

MACZFIT

Maczfit, the undisputed leader of the dietary catering market in Poland, offers its customers a wide range of properly balanced meal plans, composed of wholesome dishes based on original recipes, taking pride in their fine restaurant quality and exceptional visual appearance. The Company offers a unique Menu Selection, with the option of choosing additional side meals and 11 diet programs for people who wish to take care of themselves, lead an active lifestyle, and also lose unnecessary weight or who struggle with various nutritional intolerances. The company currently distributes around 50,000 meals a day, operating 10 thousand. subscriptions in over 1,500 towns located throughout Poland. Maczfit employs over 300 employees and a qualified management team. The Company also has the most modern production plant in Europe located in central Poland, which allows the company to continue dynamic business development. Maczfit also has a proprietary mobile application with a unique subscription model on the market (automatically charged payments from pre-authorized credit cards). Thanks to the app, customers may choose their own menu compositions as well as trace and manage their order anytime and anywhere. In addition, any customer may follow up the level of hydration of their bodies, count the steps as well as control their weight.

 

ŻABKA POLSKA

Żabka Polska Sp. z o.o. is the owner of the largest chain of convenience stores in Poland, with 7,000 stores run by over 5,600 franchisees under the Żabka brand. Over the twenty years of operation on the Polish market, the Company has gained a leading position in the convenience sales segment. Our stores are visited daily by over 2.5 million customers, and 12 million consumers live less than 300 meters from the nearest Żabka store. We develop our business responsibly. The pillars of the Company’s CRS include: care for the natural environment, responsible food sales, personal development and education, support for local communities, as well as care for health and active lifestyle. More information about the Żabka stores at: www.zabka.pl. More information about Żabka Polska can be found at: www.zabka.pl.

 

Resource Partners media contact:

Piotr Noceń

E-mail. piotr.nocen@resourcepartners.eu

Mobile: +48 601 812 792

Żabka Group signs acquisition agreement for Maczfit

Żabka Group signs acquisition agreement for Maczfit expanding into new areas of convenience in Poland. On 8 March 2021, Żabka Polska sp. z o.o. and the owners of Maczfit, the leader of the dietary catering market in Poland, announced the execution of an acquisition agreement incorporating Maczfit under the Żabka Group’s structure. This is another strategic step in expanding Żabka's modern convenience offer to consumers. Żabka will become the majority shareholder of the company, supported by its founder, Maciej Lubiak in his role as CEO.

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