FIDEA advises Kamis S.A. shareholders on attracting a strategic investor 29 June 2011

After a detailed analysis of strategic growth opportunities, shareholders of Kamis S.A. decided to partner a strategic investor, McCormick & Company, Incorporated – a global leader in spices and flavor products.

The transaction is subject to approval of Polish, Ukrainian and Russian competition authorities. McCormick & Company will buy a 100% stake for PLN 830m (USD 291m/EUR 205m). This will be one of the largest M&A transaction on the Polish food market in recent times. The agreement does not cover activities related to the production of tea, which will be continued by the present owners in the new company.

Kamis is an unquestionable industry leader in spices, seasonings, mustards and other flavor products in Poland. Founded in 1991, the business has expanded beyond Poland with subsidiaries in Russia, Romania and Ukraine, and exports into a number of other Central and Eastern Europe countries. Annual revenues for 2010 totaled over PLN 350m.

McCormick & Company was founded in the United States in 1889. The company is a global leader in flavor, with the manufacturing, marketing and distribution of spices, seasonings, specialty foods and flavorings to the entire food industry – retail outlets, food manufacturers and food service businesses. McCormick has also gained a leadership position in Europe, mainly due to the acquisition of Ducros in France and strong presence on the British market with the Schwartz brand. McCormick is listed on the New York Stock Exchange (NYSE: MKC) with a capitalization of USD 6.6 billion and revenues of USD 3.3 billion (fiscal year end in November 2010).

According to Kamis, this strategic agreement represents a unique opportunity for the development of employees, customers, suppliers and other business partners, providing a platform for long-term development of the company in Poland and the region.

FIDEA acted as the sole financial adviser of Kamis S.A. shareholders.