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Nowaco CE Up for Sale by CCMP and Bancroft

Posted Fri, 26/06/2009 - 14:58

U.S. based private equity firm CCMP Capital Advisors is poised to sell its only Central European asset, Nowaco Central Europe. CCMP is looking to get roughly EUR 250 million for the Czech frozen food distributer, it paid EUR 90 million for the company in a joint purchase with Bancroft Private Equity from Denmark's Nowaco A/S in 2005. Bancroft is also seeking to sell its stake in Nowaco.

With first round bids having already been submitted, CCMP has retained its former parent company, JPMorgan, as financial advisor.

Nowaco Central Europe (www.nowaco.cz)
Nowaco CE was established in 1992 as a subsidiary of Danish importer and exporter Nowaco A/S. Today, the now independent company is one of the leading distributors of fresh, chilled, and frozen foods across the Czech Republic.

Nowaco maintains two production plants and two distribution hubs, distributing 800 metric tons daily via a fleet of 200 vehicles. In the Czech Republic alone they employ some 1,500 people.

CCMP Capital Advisors (www.ccmpcapital.com)
Established in 1984, CCMP Capital Advisors, LLC is a private equity firm with investments focused on the consumer services, energy, healthcare, industrial, and retail sectors. Since its inception the firm has invested nearly $12 billion worldwide in such well-known companies as JetBlue, MetoKote, and Aibel.