Polish Enterprise Fund VII (PEF VII), a private equity fund managed by Enterprise Investors, today announced its planned exit from JNT Group (JNT), one of the largest domestic producers, importers and distributors of wines. The company is to be acquired by its CEO, Jakub Nowak, who, along with a group of investors, will conduct an MBO. As a result of the transaction, Nowak will become JNT’s majority shareholder.
- The value of the deal has not been disclosed;
- The transaction requires antimonopoly approval.
PEF VII acquired JNT (then Jantoń) from the founding family in 2017. Jakub Nowak had headed the company from the outset, having been with the firm for over 20 years, since the beginning of his professional career. Together with the EI team, he drew up a plan for JNT’s dynamic growth. The company has grown consistently since the change in ownership and gained more of the Polish wine market than its competitors. Today, its market share is estimated at close to 20%.
JNT achieved this position by investing in its production capacities and marketing, as well as through the acquisition of brands such as Grzaniec Galicyjski, Wino Makłowicz, Selekcja Makłowicz and Platinum Wines. The company also launched its international expansion last summer, when its products appeared in retail chains in Romania. In December JNT took over a local Romanian competitor, thus accelerating the growth through acquisitions.
EI partner Sebastian Król, who is responsible for the investment, summarized the transaction as follows: “I am pleased that JNT remains in the hands of such a capable manager as Jakub Nowak. His market expertise is unparalleled, and he knows the company inside out. Jakub has been instrumental in securing JNT‘s success to date. He is also best placed to build the company’s value going forward.”
“Our collaboration with Enterprise Investors over the last six years has been very fruitful and has taught us a lot. During this time we not only grew significantly, becoming Poland’s largest wine producer and distributor, but we also professionalized the team, substantially increased production capabilities, optimized the product portfolio and successfully completed domestic as well as foreign acquisitions. Our ambitious plan for the next stage of development is for JNT to become the largest group in Poland and to build a strong presence in many international markets,” commented Jakub Nowak, CEO.