Since its establishment in 2006, HoReCup, a.s. (“HoReCup” or the “Company”) has become a major player in the production of napkins for the niche HORECA segment. The Company offers its customers a wide portfolio of solutions, including personalized products and environmentally sustainable alternatives, while continuously investing in advanced production technologies. The majority of HoReCup’s production is directed to foreign, primarily Western European markets. Genesis Private Equity Fund IV (GPEF IV), the private equity fund of Genesis Capital, has agreed with the founders to acquire a majority stake in the Company. The founders will retain a significant minority stake and will continue to participate in the further development of HoReCup, Ján Bendžala as CEO, Ľubor Benkovič and Miroslav Hlavenka as members of the Supervisory Board. At the same time, key managers are investing in the Company and completing the key management team. The common goal is to support further dynamic development of the Company, especially the expansion into new markets and technological innovation.
“In less than twenty years since HoReCup’s establishment, the founders and management team have succeeded in building an efficient, successful and dynamic company. We are delighted to join forces with them and support HoReCup in its continued growth and development. We believe that in cooperation with the HoReCup team, we can utilize our experience to accelerate the Company’s entry into new markets, continue to further improve the technological state of the art of the production and deliver even more value to its customers. This investment also perfectly aligns with our strategy of supporting Central European leaders with high growth prospects, combined with addressing succession issues and generational change. We look forward to our future together and the opportunities this partnership brings.” Tatiana Balkovicová, Senior Investment Director at Genesis Capital Equity, commented on the transaction.
Ján Bendžala and Lubor Benkovič, founders of the Company, added: “We believe that, with an experienced investor such as Genesis, we will be able to increase our turnover in the European markets and be even more successful in terms of expanding our production capacity and, of course, our human resources. The experience of both teams, under one umbrella, will allow us to better assess risks and, above all, to increase labour productivity, which is the most important indicator for competitiveness on the markets today.”