“Pricey food” – Forbes 10/2011 2 October 2011
In the 10/2011 issue in the article “Pricey food” journalists at Forbes magazine depict the current situation of the Polish food and beverages market. The article outlines, inter alia, ongoing consolidation of frozen food, beverages, ready meals, dried fruits and organic food sectors. The article also mentions high price expectations of the owners. Marek Dojnow was asked to comment on the situation in the industry:
Similarly to food processing players, also dried fruit manufacturers have considerable expectations on valuation, especially when they take into consideration Wedel and Kamis transactions, where the new owners paid EBITDA multiples ranging from 12x to 14x, after a grueling bidding war.
– They received so much, because strategic investors are willing to spend much more than funds,since they buy not only a good company in a particular country, but also a region.– says Marek Dojnow, Managing Partner at FIDEA.
For Japanese-South Korean Lotte or American McCormick Wedel and Kamis are beachheads for own products’ introduction into Central and Eastern Europe.
The whole content of the article (in Polish) is available on Forbes website.