White & Case has advised Mid Europa Partners, which in 2012 took a 50% stake in Walmark — one of the largest suppliers of dietary supplements in the region — on its acquisition of the remaining 50%, giving the firm full ownership of the business. The transaction remains subject to anti-trust clearance. The acquisition of a 100% stake sees the Walach family, Walmark's previous owner, exit the business. The Walach family was advised by Allen & Overy.
Mid Europa, which operates from London, Budapest, Warsaw, and Istanbul, is the largest private equity firm focused on Central Europe and Turkey, advising and managing funds of approximately EUR 4.2 billion.
Walmark has made bolt-on acquisitions of respiratory food supplements manufacturer Sinulan (reported on by CEE Legal Matters on June 3, 2015) and the consumer healthcare business Valosun (reported on by CEE Legal Matters on October 7, 2015), and reportedly intends to pursue further acquisitive growth.
Michelle Capiod, Partner at Mid Europa, commented: "We would like to thank the Walach family for our excellent partnership and wish them great success in their future endeavours. We have jointly transformed Walmark from the leading dietary supplements business in Central and Eastern Europe into a focused consumer healthcare platform with an exciting pipeline of new products. We are delighted to continue our active support of management in their execution of this successful strategy.”
Adam Walach, on behalf of his family, stated: “As passionate entrepreneurs, we have always enjoyed new challenges and opportunities. After 25 years of building Walmark, we have decided to pursue other interests and new investment opportunities, capitalising on our experience. We also want to actively engage in socially responsible and philanthropic projects.”
The White & Case team consisted of Partners Michal Smrek, Damian Beaven, and (newly-promoted) Alena Naatz, and Associates Jakub Mencl, Jan Stejskal, and Petra Zunova.
The Allen & Overy team consisted of Prague-based Counsel Prokop Verner and Budapest-based Partner Hugh Owen.