DLA Piper has advised Bracia Sadownicy and its founders on joining forces with minority investor Syntaxis Capital – providing a mezzanine loan – to acquire Victoria Cymes. Grant Thornton advised both the buyer and the investor on due diligence for the target. CMS reportedly advised Syntaxis Capital.
Bracia Sadownicy, located in Smilowice, operates in the orchard and fruit and vegetable processing market and offers a wide range of apple-based products, including juices, purees, and beverages.
Walcz-headquartered Victoria Cymes, in operation since 1981, has a portfolio of more than 160 products, including syrups, beverages, and water in addition to fresh juices, HPP-fixed juices, pasteurized juices, and smoothies. The company employs approximately 160 people and has around 140 collaborators.
Syntaxis Capital is a private debt investor dedicated to providing growth credit for mid-market companies.
According to Grant Thornton, "the business objective of the newly formed group is to double its turnover within three years (estimated at around PLN 200 million in revenue for the current year) and build one of the strongest and most efficient direct distribution networks for fresh products in Poland."
The DLA Piper team included Partner Jakub Domalik-Plakwicz, Senior Associate Michal Banasiak, and Associate Jakub Niemiec working on the transaction, with Senior Associate Aleksander Haleniuk and Junior Associates Szymon Piotrowski and Jakub Wiatrzyk working on the financing.
The Grant Thornton team included Partner Katarzyna Ciesielska.
