Alpin 57 Lux owners receive over 200 million Euro from Asian investors
Food Union Group, an international group of dairy and ice cream producing companies, and the owner of Romania's ice cream manufacturer Alpin 57 Lux, has received a combined 214 million Euro investment from PAG, one of Asia's largest private equity firms, and Meridian Capital, an existing investor, a press release shows.
PAG and Meridian Capital's investment will support the expansion of Food Union with a specific focus in China where Food Union is near completion on two modern dairy plants. In addition to capital, PAG will provide Food Union with deep country-specific knowledge and significant operational experience in support of the management team. PAG will invest 161.6 million Euro and Meridian Capital will invest a further 52.4 million Euro into Food Union.
"Food Union has had a tremendous year in 2016. In Europe, we have solidified our position in our home markets and have acquired two ice cream producers in Norway and Romania," said Andrey Beskhmelnitskiy, Global CEO and founder of Food Union Group. "In China, we broke ground on two modern dairy plants which are expected to bring high-end dairy products to Chinese consumers by the beginning of 2018. PAG's investment and Meridian's follow-on investment are an endorsement of Food Union's strategy and we look forward to working with PAG to build a strong business of dairy products in China."
Food Union Group is an international group of dairy and ice cream producing companies operating in nine countries. Food Union Group exports to more than 25 countries all over the world, with the main markets being Latvia, Lithuania, Estonia, Poland, the Netherlands, Great Britain, Azerbaijan, Russia and China. Food Union Group currently employs more than 2,500 people.
PAG is one of Asia's leading private equity firms with capital under management more than 15.4 billion Euro. Since it was founded in 2002, PAG has invested more than 28.3 billion Euro in private equity, real estate and absolute returns strategies in Asia, with 380 staff in seven offices across the region.
Meridian Capital is an international private equity investment group that invests in food and beverages, transportation, real estate and natural resources sectors. Meridian Capital first made an investment into Food Union in 2013.