Polish food company to capitalise on its spiritual connection

There are many food companies and retailers around the world that specialise in “local” or “ethnic” produce and who have emerged as a result of the growing demand for local dishes and foods from expatriated communities. You can buy Heinz Baked Beans and HP sauce from a retailer in New York, or authentic Chinese vegetables from Chinese supermarkets in the UK.

So there is nothing unusual in today’s global consumer market about hearing a Polish food company is planning a potential IPO in order to capitalise on the demand for traditional Polish food products, especially given the rise of Polish communities throughout the EU over the last few years.

However Produkty Klasztone, the company reported to be considering an IPO on the Warsaw Stock Exchange’s alternative market, the New Connect market, is a little different from the usual retailers of specialised food.

The company has a unique arrangement with the order of Cistercian monks. They pay a licensing fee to the monks in order to use their traditional recipes and will also source some of the raw materials used in their products from them as well. Images of five monks walking in a line are on products ranging from wine to pasta, thereby clearly illustrating to purchasers the source of the ingredients and products.

Thus if the IPO proceeds, one would imagine that the monks may well be taking a somewhat tougher stance on the licensing fee they charge!

Filed under: dealmaking, food, IPO, Poland, consumer