Spearhead International: Acquisition of Masfrost Sp. z o.o. and ZPOW Ziebice Sp. z o.o. in Poland
Spearhead International, through its Polish subsidiaries Top Farms Food I Sp. z o.o. and Top Farms Food II Sp. z o.o., has acquired two companies engaged in the production of frozen vegetables in Poland to establish a new Frozen Foods division.
- Masfrost Sp. z o.o. based on the Baltic quayside in Tolkmicko in northern Poland has well established freezing facilities and a 600 hectare growing operation to supply the factory.
- ZPOW Ziebice Sp. z o.o. is a similar business based in Ziebice in south-western Poland but its vegetables are supplied entirely by contracted growers.
The procurement of high quality vegetables is an important part of this business and Spearhead has considerable experience and good resources in Poland which will be used to achieve valuable synergy. The intention is to build on the established customer bases of the two companies; to utilise their geographic spread to optimise customer service; and to invest in further processing and storage capacity. There will also be the opportunity to develop the production of specialist vegetables in close cooperation with the Spearhead Group's nearby farming operations, providing an integrated supply chain to service both local and export customers.
The acquisitions bring with them experienced management and operational personnel who will remain in place to develop the business. The combined operations will represent a significant presence in the Polish frozen vegetable market. In a full year the division is expected to add in excess of PLN100m (£20m at current exchange rates) to the Spearhead Group turnover.