CVI has been nominated for the PSIK 2025 Award for its successful exit from NOWEL Sp. z o.o., achieving an eightfold return on investment.

Target Information

CVI has been nominated for the PSIK 2025 Award by the Polish Association of Capital Investors in two categories. One of which, the Deal of the Year, recognizes CVI's successful exit from its investment in NOWEL Sp. z o.o., a leading bread manufacturer in Poland. CVI initially invested in a minority stake in 2016 and provided significant support for the company's dynamic growth, which included over 800 million PLN in organic expansion investments. During this period, the company's revenues increased sixfold, while EBITDA grew elevenfold.

Upon exiting its investment, CVI achieved an impressive eightfold capital return (CoC) and nearly 30% internal rate of return (IRR). This milestone underscores the effective partnership between CVI and NOWEL, demonstrating the potential for substantial returns when investing in a growing brand within the food sector.

Industry Overview in Poland

The food manufacturing industry in Poland has experienced steady growth in recent years, driven by both domestic consumption and export opportunities. As a member of the European Union, Poland benefits from a vast single market, allowi