Bank of America to sell Polish food industry giant?
Created: Friday, September 28. 2007
Argan Capital, the fund created by Bank of America to manage the Polish producer of juices and deep-frozen vegetables, Hortex, may well sell the company for 300 million euro.
Prospective buyers of the brand, highly popular not only in Poland but also in Russia, are said to be numerous.
They include Pepsi Co, British investment fund Lion Capital, as well as Polish food producers Maspex and Hoop.
Hortex is a rapidly developing company, last year it had total revenues of 730 million.
Hortex now has a 12% share of the juice market, and 53%-share of the deep-frozen vegetables
