Poland's Dr Gerard Acquired By Private Equity Company
Published on Oct 31 2013 9:32 AM in A-Brands
Dr Gerard, a producer of branded and private label biscuits in Poland, has been acquired by Bridgepoint from Groupe Poult of France, for an undisclosed amount, rumoured to be around €115 million. The company operates from three sites across Poland where it employs over 950 people and in recent years has developed a growing export business to the wider CEE region.
Established in 1993, Dr Gerard is now a leading biscuit producer in Poland selling its products to all retail formats
The Polish market is forecast to continue to grow at 6% per annum as new products are introduced to the market and consumption converges towards Western European levels.
“We very much look forward to working with a new financial partner who shares our international growth ambitions as well as our commitment to making Dr Gerard the leader in its home market," said Dr Gerard CEO Jaroslaw Zawadzki.
Khai Tan, partner responsible for Bridgepoint’s activities in the CEE region, said that Dr Gerard has "transformed itself into a leading player and is already well positioned for further long term growth in its market following its successful multichannel strategy".