Gessel, Eversheds, and CMS Advise on Janton Sale

Gessel, Eversheds, and CMS Advise on Enterprise Investors Financing of Janton MBO

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Gessel and Wierzbowski Eversheds Sutherland have advised Enterprise Investors on the acquisition by the Polish Enterprise Fund VII and the President of the Management Board of 100% of shares in Janton, Poland’s leading producer of alcoholic beverages based on grape and fruit wines. The sellers were advised by CMS on the deal, which remains conditional on antimonopoly approval. Financial details were not disclosed.

Enterprise Investors is one of the largest private equity firms in Central and Eastern Europe. Active since 1990, the firm has raised eight funds with total capital exceeding EUR 2 billion. These funds have invested EUR 1.7 billion in 138 companies across a range of sectors and exited 124 companies with total gross proceeds of EUR 3.4 billion.

Janton’s core products are wines, ciders, and flavored alcoholic beverages with an alcohol content of up to 22%. In 2016 the company generated revenues exceeding EUR 40 million. Janton sells its products under some 20 different brands produces and stored at a plant and warehouse in Dobron, in central Poland.

"Janton will benefit from the evolution of Polish consumer preferences toward flavored alcoholic beverages with lower alcohol content. The category requires constant innovation and product development in terms of taste, packaging and brand communication. Janton clearly has the know-how and experience as well as the infrastructure to thrive in such a fast-paced and continually changing environment,” said Sebastian Krol, partner at Enterprise Investors in charge of the transaction. “These strengths in combination with sound financial standing and an ambitious management team put Jantom in an excellent position as a potential market consolidation platform,” he added.

The company’s co-owner, Jacek Janton, summed up the deal: “We are handing over Janton to its very capable management, which will be supported by a leading private equity fund, Enterprise Investors. I am convinced the company has excellent prospects for further growth and will continue to consolidate its market position.”

After the acquisition, Janton will focus on strengthening its key business lines. “In the months to come we will introduce new products and launch further innovations in the existing portfolio. One of our priorities will be to support the development of the very successful Monte Santi brand,” commented Jakub Nowak, CEO of Janton. 

Gessel reports that it supported the Polish Enterprise Fund VII "on all successive stages of the transaction, including due diligence, tax analysis, preparation of the transaction structure and documentation, and proceedings before the Office of Competition Consumer and Protection." The firm's team was led by Managing Partner Marcin Macieszczak and included Advocates Karol Sokol and Karolina Krzal, Attorneys Inarda Bielinska, Michal Boryczka, and Krzysztof Jasinski, and Trainee Attorney Anna Ryniec.

Wierzbowski Eversheds Sutherland's role involved negotiating the terms of the warranty and indemnity coverage and the tax risks associated with the transaction. The firm's team included Partner Karolina Stawowska and Senior Associate Malgorzata Sajkiewicz on tax, Of Counsel Grzegorz Kott on insurance law, and the leader of the project, Of Counsel Krzysztof Feluch, on M&A issues.

The CMS team included Partner Marek Sawicki, and Mateusz Baszczyk, lawyer from CMS Corporate Department.