US-based Kraft group yesterday announced the sale of the Kandiabusiness in Romania to investment fund Oryxa Capital, withoutproviding details as to who was behind the fund or the value of thedeal. Put up for sale by Cadbury, which had been acquired by Kraft,six months ago, Kandia had eight suitors, among which big names ofthe confectionery industry such as Nestl, †lker and Ritter Sport.The surprise winner was an investment fund unknown on the localmarket, behind which, however, is Austrian family Meinl.
"Oryxa Capital is a private equity fund that has the Meinl familyin Austria as majority shareholder," confirmed Nicholas Hill, thefinancial consultant of the buyer in this deal.
The transaction, which sources on the market put at less than 20million euros, thus marks the return to Romania of the Austriangiant Julius Meinl, after a three-year hiatus and at an estimatedprice five times lower than the one at which it had sold the Kandiabusiness on the Bucharest Stock Exchange in the summer of 2007before the onset of the financial crisis.
Meinl family has built its 2bn-euro business on coffee trade sincethe times of the Habsburg Empire and in 1980 opened its own bank,Meinl Bank, the starting point for an entire financial group, whichincludes an investment arm. The family's reputation took a hit lastyear when Julius Meinl V was charged and detained in connectionwith a 100 million-euro fraud.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
