Corporate Finance Partners (CFP): DEVIN AD – ACQUISITION BY ADVENT INTERNATIONAL FOR EUR 40 MILLION

Advent International, the global private equity firm, today announced that it has acquired from the Soravia Group of Austria and certain individual shareholders approximately 79% of the shares of Devin AD (“Devin” or the “Company”), Bulgaria’s leading mineral water bottler and distributor of soft drinks, at a price of BGN 3.06 per share. This transaction values Devin at a total Enterprise Value of Eur 40 million. The top management team of Devin will retain their stake of 6.7% of the sharesin Devin.
In line with local regulations, Advent will launch a takeover bid for the remaining shares of Devin traded on the Bulgarian Stock Exchange.
The Company, based in the town of Devin in south-west Bulgaria, was founded in 1992 and has consistently grown to reach the number one position in the Bulgarian bottled water market with its leading Devin® mineral and spring water brands. Over the past two years, the Company has also established distribution agreements in Bulgaria for Red Bull® and the premium juice brand Granini®, launched the first flavoured water locally and expanded intothe Romanian market.
Devin has a strong management team, which has driven its impressive growth over the last few years. The team will be supported by Matthew Litobarski, an Operating Partner at Advent International and a former President of Cadbury Schweppes Europe, who will join as non-executiveChairman of the Board of Devin.

Commenting on the agreement, Devin’s CEO Tzvetan Lazhanski said:“Advent has a long track record of supporting companies in this region in their growth and we are delighted to have them as investors and partners in our next stage of development.“Chris Mruck, a Managing Partner at Advent, who will join the Devin Board as a non-executive Director, commented:“Devin is a successful company with considerable potential, operating in an attractive sector. The Company has built a strong position on the local market and established a presence in Romania. We believe that the Company and its management team provide an excellent platform for further growth and we are delighted to be able to support this.“Albena Vassileva, a Director at Advent, who managed the execution of the deal and also joins the Devin Board as a non-executive Director, added:“The acquisition of Devin confirms Advent’s interest in and strong position on the south-east European markets. We believe that the blend of international best practice, significant resources and local expertise that Advent offers will be a valuable contribution to Devin’s future.“Advent International has been investing across Central Europe with local funds and offices since 1994. The firm has financed and supported a number of companies in the food and drink sector globally to achieve successful growth, including Brewery Holdings in Romania, Star Foods in Poland, Uno in Turkey and Graffigna in Argentina.Corporate Finance Partners (CFP) acted as the exclusive financial adviser to Advent International in this transaction. According to Berend Yntema, a Managing Director at Corporate Finance Partners (CFP), this transaction underlines a revival of the regional M&A market in which Sellers have adapted their expectations, while committed investors such as Advent International are again prepared to pay fair prices for assets based on their development potential.About Advent International:Founded in 1984, Advent International is one of the world’s leading global buyout firms, with offices in 16 countries on four continents. A driving force in international private equity for 25 years, Advent has built an unparalleled global platform of over 140 investment professionals across Western and Central Europe, North America, Latin America and Asia. In Central& Eastern Europe, Advent is the longest-established international private equity investor, having supported growing companies across the region from dedicated funds and local offices, since 1994.The firm focuses on international buyouts, strategic repositioning opportunities and growth buyouts, working actively with management teams to drive revenue growth and earnings improvements in portfolio companies. Since inception, Advent has raised $24 billion (€18.6 billion) in private equity capital and, through its buyout programmes, has completed over 250 transactions valued at approximately $45 billion (€37 billion) in 35 countries.

More Information: http://www.adventinternational.com/.

About Corporate Finance Partners (CFP) Group:
Corporate Finance Partners (CFP) provides corporate finance advisory services with a focus on mergers& acquisitions and private equity/ venture capital financings for small and mid-sized enterprises (SME’s). Corporate Finance Partners (CFP) achieves global reach through offices in Germany, USA, Japan, Austria, Hungary and Estonia. Corporate Finance Partners (CFP) was founded in 1998 and since then has built up significant expertise and track record in areas like telecommunications/ media/ Internet, life sciences/ pharma and restructurings/ special situations. Corporate Finance Partners (CFP) today is a growth industry focused M&A advisory firm with 12 managing directors supported by 70 investment banking professionals.More Information: http://www.cfpartners.com/Press contact:
Corporate Finance Partners (CFP)
Florina Starzacher
PR& MarketingFon: +49 (69) 90747612florina.starzacher@cfpartners.comhttp://www.cfpartners.com/Publisher:Corporate Finance Partners (CFP) Beratungs GmbH – Palais 22 – Kennedyallee 70a – 60596 Frankfurt – GermanyPublisher in charge:
Andreas Thuemmler, Julian Riedlbauer, Andreas Noth

Commercial register: Amtsgericht Frankfurt HRB 75151 VAT ident nr.: DE199378417

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