The THC fund invested in the manufacturer of ready-made meals, SmakMAK

The private equity fund Tar Heel Capital (THC) has invested in SmakMAK - a Polish producer of ready meals with revenues of PLN 140 million, THC reported. The fund, taking up the majority stake of shares, plans, together with the founders of the company, to significantly increase the scale of its operations.

SmakMAK, a company founded in 2004 by Adam and Maciej Woźniczak, is a producer of ready-made meals that can be found in the offer of large Polish retail chains. The company's offer includes over 100 products in the category of ready meals. The company's own research and development department, combined with a flexible and constantly expanded production base, allows the company to introduce a dozen or so market novelties every year in line with the changing needs of consumers, the company said.

“According to forecasts, the value of the Polish ready-made meals market will grow by an average of 7% in the years 2022-2027, and SmakMAK wants to grow with the THC fund at a double-digit pace. The fund has agreed with the owners on the terms of the investment in SmakMAK, however, it will have to wait for the approval of the Office of Competition and Consumer Protection to finalize the acquisition of 64% of shares, ”the release reads.

“We are investing in a company that fits well with our investment strategy - both the company and the convenience food market are developing dynamically, and the diversified portfolio of proprietary products responds to market and consumer trends. Additionally, SmakMAK has the agility and flexibility in introducing new products and innovations that retail chains expect. It is also important for us that the owners stay on the management board and the key managers hold a significant stake. That is why we are convinced that in the next few years we will significantly increase the scale of operations together, ”said Jacek Przybył, principal in Tar Heel Capital, quoted in the material.

After obtaining the approval of the Office of Competition and Consumer Protection (UOKiK), SmakMAK will be included in the THC 3 fund's portfolio next to companies such as Suret, Cad / Cam Solution, Radpol and the Dentity dental group. In the first quarter of this year, the fund finalized the sale of 100% shares in Rockfin, which belonged to the THC 2 portfolio. The THC 2 portfolio also includes: Transsystem, Mera Systemy, ELPLC, Flavourtec, Aludesign and TMR.

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