SORTIS Invest, is thrilled to announce its role as the exclusive financial advisor to Mr. Joseph Maurice Jabra, a Bulgarian entrepreneur with Lebanese origin in the acquisition of Schreiber Foods Bulgaria.
Schreiber Foods Bulgaria, the Bulgarian division of the Schreiber Foods, is the dairy plant formerly known as Serdika. It was privatized by France’s Danone almost three decades ago, and then resold to the leading US-based dairy producer Schreiber Foods in 2014. With this acquisition, Mr. Joseph Jabra, who already owns MJ Dairies in the town of Karlovo, will take the reins of the renowned dairy maker. His existing company, MJ Dairies, has established a remarkable reputation as an exporter of different types of cheese, with 90% of its output being shipped overseas to various regions, including Europe, the United States, New Zealand, Australia, and Arab countries.
The deal was completed on 30 June 2023 after the purchaser was granted permission by the Commission on Protection of Competition, the Bulgarian anti-trust regulator. Schreiber Foods Bulgaria will continue to operate autonomously and to be a reliable supplier of high-quality dairy products to some of the leading brands and to large retail chains. Its current products include fresh milk, Bulgarian traditional yoghurt, yoghurt drinks, yoghurt-based desserts and oral rehydration solutions.
This strategic acquisition positions Joseph Jabra’s venture as one of the biggest dairy groups in Bulgaria, boasting sales of ca. 100 million levs (50 million euros). The synergy between the newly acquired company and MJ Dairies will enable the group to strengthen its market presence and offer an extensive range of high-quality dairy products to Bulgarian consumers and international markets.
The purchaser has an ambitious investment program for the next several years, planning to install 4 new production lines, increasing production capacity by more than 50% and launching own brands as an addition to the current private label and contract manufacturing business of Schreiber Foods Bulgaria.
Commenting on the deal, Joseph Jabra expressed his enthusiasm, saying, “Since the start of my business in Bulgaria, I have invested more than 20 million Euros in the country. This acquisition is a testament to our commitment to the Bulgarian dairy industry and represents a significant milestone in our growth journey. We are excited to lead one of the largest dairy groups in Bulgaria and look forward to continuing our tradition of producing exceptional dairy products for both domestic and international consumers. I am extremely grateful to our financial advisors, SORTIS Invest, for leading this complex transaction in an impeccable manner, negotiating a great deal and providing us with invaluable insight and assistance in every single aspect of this acquisition.”
Mr. Martin Paev, CFA, the Executive Director of SORTIS Invest stated: “We are immensely proud to have orchestrated this landmark acquisition. At SORTIS, we believe in the power of strategic partnerships to catalyze growth and drive innovation. This deal stands one more proof of our unwavering commitment to our clients’ success and our ability to navigate complex financial landscapes with precision. We embrace opportunities that shape industries, and we look forward to supporting more visionary entrepreneurs in their pursuit of excellence.”
ABOUT MJ DAIRIES
MJ Dairies is a prominent player in the Bulgarian dairy industry, based in the town of Karlovo with annual sales of more than 40 mln levs (EUR 20 million). Specializing in a diverse array of cow, goat, and sheep cheese varieties, MJ Dairies has garnered a reputation for delivering top-notch dairy products to customers worldwide. The company’s dedication to producing authentic flavors typical of Lebanon, Turkey, Armenia, Syria, and Kurdistan has captured the hearts of discerning consumers.
ABOUT SCHREIBER FOODS
Based in North America, Schreiber Foods is a customer-brand leader in cream cheese, natural cheese, process cheese, shelf-stable beverages and yogurt. Its more than 9,000 employees and presence on five continents enable Schreiber to be an essential ingredient in its customers’ success. With annual sales of more than $5.7 billion, the company partners with the best retailers, restaurants, distributors and food manufacturers around the globe. It also recognizes its responsibility to do good in the world and is driven to make a difference in everything it does.
SORTIS Invest is a prominent investment banking boutique, based in Sofia, Bulgaria, part of SORTIS Group. It is a member of Globalscope Partners, a global family of 55 independent M&A firms in 46 countries with a team of 400+ professionals and more than USD 20.8 bln completed mergers and acquisitions and private equity deals worldwide in 2022.
SORTIS Invest has advised clients in various sectors including Telecommunications, Media and Technology (TMT), financial services, food and beverages, life sciences, chemicals, education, defense, manufacturing, commerce, energy, mining, transport and logistics, hospitality and real estate.
For more information and questions, please contact Mr. Martin Paev, CFA, Executive Director of
SORTIS Invest, at paev@sortis.bg or mobile phone +359 88 50 50 200.
