PE in CEE - Knjaz Miloš
Country: Serbia
Serbian mineral water brand
COUNTRY | Serbia | RETURN | 4.8x |
GP | Mid Europa Partners | GROWTH | +89% EBITDA |
INVESTMENT | EUR 36 million (with LP co-invest.) |
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SECTOR | Consumer beverages | INVESTMENT TYPE | Buyout |
INVESTMENT | April 2015 | FUND OWNERSHIP | 100% (incl. LP co-invest.) |
EXIT | August 2019 | EXIT ROUTE | Trade sale |
Investment rationale
Knjaz Miloš was one of Serbia’s strongest consumer brands, and well established in neighbouring countries. It was the country’s # 1 player in sparkling water and energy drinks and # 2 in still water. Mid Europa saw an opportunity to build on the historic brand’s recognition and market positioning while modernizing its image and capitalizing on increased consumer demand for innovative drinks.
Deal history and structure
Knjaz Miloš was one of three consumer goods companies constituting Danube Foods Group. Mid Europa Partners and its co-investor vehicle took over the group and subsequently restructured it and renamed it Moji Brendovi Group, with the aim of separating each of the companies into distinct businesses. EUR 36 million of equity was invested to acquire a 100% stake in Knjaz Miloš.
