On 23 May 2014 the Innova/5, L.P. fund managed by Innova Capital (acting through the Innova Phoenix S.a.r.l. special purpose vehicle), acquired a 100% stake in Rieber Foods Polska S.A. (“Delecta"). The transaction was linked to the conditional agreement signed by Bakalland S.A. by virtue of which, upon completion of the Delecta acquisition (OCCP approved) a merger of both companies will take place. Apart from financing the acquisition of Delecta, the Innova Capital fund also injected 20 million zloty worth of capital intro Bakalland. This will have a positive impact on the structure of the balance sheet and the merged group will gain a well known and respected investor - establishing a consolidation platform for the future.

The transaction will allow for a merger of two medium sized companies into o a single organism of an entirely new operational scale. The sales volumes of the merged companies will leap. It should also be emphasised that there is no risk of product cannibalisation, as there is no overlap in product portfolios of the two companies.

The marriage of two hundred year old tradition represented by the facilities in Wrocław and Delecta, a known and liked Polish brand whose founders began the pursuit of their dreams not much more than 20 years ago is a wonderful example of Polish brands combining their potentials. This shows the potential of the Polish market.

As a result of the merger of the two companies, whose product portfolios are complementary, a new company will emerge with market clout facilitating further growth. Two organisations with consolidated market presence in their own categories will merge and by being mutually complementary in terms of product lines, ideally matching categories will combine. The possibilities of mutual promotion in related categories such as dried fruit and baking additives are practically unbounded. The use dried fruit, despite the snacking trend is still closely linked with baking. Products of both companies are shop shelf “neighbours".

The Bakalland brand is an unquestioned leader on the dried fruit market. Delecta is enjoying the top, or second best spot in most categories within which it operates. Both brands are well received by consumers and brand recognition is high. Delecta joining Bakalland group is an excellent opportunity for further company growth