Raisio Acquires Polish Pasta Company Sulma
With the acquisition of Sulma operations, Raisio will get a foothold in the Polish pasta market, the product range of Raisio’s local subsidiary will expand and its profitability is expected to improve.
20 Mar 2012 --- Raisio will acquire Sulma sp. z o.o.’s pasta and buckwheat groats operations that include intellectual property rights as well as fixed and current assets. The value of the deal is EUR 2.4 million (PLN 9.8 million). The purchase price will be paid in cash and Raisio will not assume liabilities of the acquired company. With this acquisition, Raisio’s growth continues as planned and the company reinforces its position both in Polish market and in pasta products.
Sulma is one of the significant Polish pasta brands, particularly in Western Poland. Other well-known brands of the company are Ideal and Makaron Nadodrzanski. These brands will be transferred to Raisio. In Poland, pasta products are sold for some EUR 190 million annually. Sulma’s range of pasta products is wide, and consumers value the company’s high-quality branded products. The product range also includes roasted buckwheat, a common side dish in Poland.
With the acquisition of Sulma operations, Raisio will get a foothold in the Polish pasta market, the product range of Raisio’s local subsidiary will expand and its profitability is expected to improve. Through its own sales network and distribution channels, Raisio aims to expand the market area of Sulma pasta products to cover the whole country. The acquisition makes it possible to take advantage of synergies between the Group’s market areas. Sulma will be made part of Raisio’s Brands Division’s Eastern European operations on 20 March 2012.
Sulma sp. z o.o. was founded in 1994 and its production plants are located in Sulechów, near the city Poznan. At the end of 2011, the company employed 85 people who will be transferred to Raisio as serving employees. The seller of Sulma operations is the company's founder and Managing Director Teresa Juskiewicz-Kowalik. She will not continue at Raisio. Net sales of the acquired operations totalled EUR 3.9 million (PLN 16.3 million) in the financial year ending 31 December, 2011. In 2011, the company’s net sales increased by 25% from the previous year. The 2011 figures are unaudited.
