Hungarian Waberer’s Group Buys MD International, Key Player in Serbian Distribution Market
The Hungarian Waberer’s Group has announced that their subsidiary WSZL Ltd. has signed an agreement on the purchase of a 55% stake in MD International (MDI), while simultaneously obtaining an option to acquire the remaining 45% stake.
According to the press release, MD International is a key player in the Serbian FMCG distribution market and its primary activities include distribution, carriage of goods by road and warehousing, and has decades of experience in working with international and local FMCG customers.
MDI reported a revenue of 50.3 million euros in 2022, with an EBIT of 2.1 million euros and a net profit of 1.7 million euros.
Waberer’s adds that the transaction, in line with the goals set during the bond issuance, will be financed by the company from the bonds issued in 2022. The purchase price is treated as a business secret by the parties involved.
– Under the terms of the transaction agreement, the owners of Waberer’s and MDI have agreed to collaborate on further developments and investments, with a significant focus on the planned joint warehouse expansion. This expansion could serve as the foundation for future growth and even more efficient logistics operations – the press release says.
The closing of the transaction is subject to the usual anti-monopoly approvals and the set conditions in the sales and purchase agreement.
– Obtaining a majority ownership stake in MDI is the first significant step along the path where Waberer’s aims to become the leading comprehensive logistics service provider in the region. Waberer’s has achieved significant success in Hungary in the field of comprehensive logistics services, which it intends to expand regionally through acquisitions in the future – said Zsolt Barna, Chairman-CEO of Waberer’s International Nyrt.
MD International was founded as a small family business in 1997, and according to their official website, they have 286 employees in four distribution centers.
(ekapija.com)