ARX Equity Partners has agreed to buy Nutricia Deva, which does business as Deva, from Danone Group. Financial terms weren’t announced. Deva, of the Czech Republic, produces baby fruit desserts and fruit drinks. Keith Dilworth, a food industry entrepreneur, is also investing.
ARX Equity Partners (“ARX”) together with experienced food industry entrepreneur Keith
Dilworth entered into a binding agreement relating to the acquisition of Nutricia Deva a.s.
(“Deva”) from Danone Group.
Deva is a Czech Republic based producer of baby fruit desserts and fruit drinks, with total
annual capacity of 24,000 tons, and also holds bio and organic certifications.
ARX together with Keith Dilworth committed to acquire Deva with the aim to expand the
existing business via further organic growth and to use the company as a platform to acquire
complementary add-on acquisitions. As part of the transaction, Deva will enter into a
manufacturing contract and will continue to manufacture baby food desserts under the
“I am excited to team up with ARX and acquire such a high-quality company and we look
forward to continuing a production partnership with the Danone Group. We are convinced
that Deva is well-positioned to leverage its strong asset base, technical know-how and skilled
employees, in order to acquire new customers in the future.” says Keith Dilworth, who has
been named CEO of Deva.
The acquisition of Deva will be the first investment made from the fourth ARX Equity
Partners managed private equity fund.
Financial details of the transaction will not be disclosed.
About ARX (www.arxequity.com)
ARX Equity Partners is a lower mid-market focused private equity firm targeting investments
in select countries of Central Europe. The ARX family of funds focuses on later stage
investments, such as management buy-outs and buy-ins and industry consolidation
transactions. The firm is headquartered in Prague.