MP Corporate Finance acted as the exclusive M&A advisor to the founding family in their sale of the #1 independent sustainable food packaging thermoformer in the Balkans

Founded in 1992, Teda-MM (TEDA) has established itself firmly as the largest independent thermoforming company for rigid food packaging in the Balkan region. Alongside TEDA’s continuous growth track record, the company acquired their local key competitor, LDS Plast (LDS) in 2015 widening further the product portfolio and forming a harmonious food packaging group.

Since 2015, the shareholding family managed to double their revenue and to transform both businesses into top-tier suppliers for sustainable thermoformed food packaging companies in Bulgaria, South-Eastern Europe and beyond. Today, the companies achieve more than two-thirds of sales from exports. The group’s vast and versatile range encompasses countless types of MAP trays and catering packaging – all produced from fully recyclable, sustainable (r)PET, PP or as biodegradable solutions.

The logical next step is to continue the unbroken success story: An alliance with a strong partner supporting growth to the next level.

Investor

The deal marks the second investment of the CEECAT Fund II, which focuses on regional champions supporting the Fund’s themes driven by core convergence, export competitiveness and import substitution in the fast-growing Eastern European markets.

MP Value Add

Based on our direct access to top-level stakeholders in the packaging industry and financial sponsors, MP carefully identified and selected the best partners to support TEDA’s and LDS’ expansion going forward.

Despite ongoing uncertainties induced by the COVID-19 pandemic, MP seamlessly executed this complex process involving four jurisdictions, shareholder participation, two group entities, as well as asset transactions.

The deal offers the parent generation a full exit while the latest generation of the founding family participates in the significant future upside of their partnership with experienced regional equity investor CEECAT Capital. The future setup will carry the company to its next era by becoming a regional heavyweight.