News: UK-based private equity group Bridgepoint has acquired Poland-based biscuit producer Dr Gerard, a unit of France-based Groupe Poult, to capitalise on the rising demand for sweet products in Poland. The financial details of the transaction have not been disclosed. Bridgepoint expects to take advantage of the highly fragmented Polish biscuit market, which it projects to grow at an annual rate of 6%. Raiffeisen Investment, Navigator Capital, Lazard and Ernst &Young acted as financial advisors to Bridgepoint for the transaction.
BMI View: BMI expects food consumption in Poland to grow considerably in absolute and per capita terms over our forecast period to 2017. Strong disposable income will allow Polish consumers to spend more on food over the coming years, and growth in spending will be compounded by development in trade channels, with organised mass grocery retail expected to become even more mainstream.