Poland/Enterprises/Food
Warsaw (Puls Biznesu) –Inter Link Foods (ILF), Britain’s second largest cakes’ producer, bought 100 percent in Cukiernia Mistrza Jana (CMJ), its peer from Szczecin, north-western Poland. ‘The majority of the payment, i.e. GBP 700 thousand (EUR 1.01 million) was paid in cash, and the rest in ILF’s shares’, Zbigniew Jakimowicz, CMJ CEO said.
The Polish company will be ILF’s first plant abroad. ‘The British plan to invest EUR 2 million in two new production lines and move to Poland part of its production for the British market’, the CEO added. Sales of the Polish company will grow by several dozen percent and amount to PLN 30 million (EUR 7.2 million) next year.
ILF sells its products in Western Europe and in the Czech Republic, Slovakia, and Hungary. The British company is the third foreign investor in CMJ. In 1994, it was bought by British Lions Bakers, and several years later sold it to Elite Industries, which sold it to Iriston.
(PLN 1 = EUR 0.240)
(GBP 1 = EUR 1.4)