Press Releases

May 15, 2018

Dragon Capital advised shareholders of Ergopack in the sale to Sarantis Group


Sarantis Group acquired Ergopack, a leading player in the Ukrainian household goods market. Dragon Capital acted as the sole financial advisor to Horizon Capital and other shareholders of Ergopack in this transaction.

Ergopack pioneered local production of household products in Ukraine in 2001 and currently is the second largest player in the market. Horizon Capital was the controlling shareholder of the business prior to the sale.

With this acquisition, Sarantis Group, which is not yet present in Ukraine, enters the promising markets of CIS countries where Ergopack has a firm foothold. Sarantis Group plans to introduce its portfolio of brands to the new markets via Ergopack’s distribution platform, including the cosmetic & personal care brands popular among CEE consumers.

“We succeeded in attracting a number of foreign and local strategic investors to the competitive sale process. Sarantis offered the best terms for our client and eventually won the deal, which became a strategic win-win for the parties,” said Mykhailo Granchak, Managing Director of Investment Banking at Dragon Capital. “This is a landmark deal for the Ukrainian FMCG market — the first in many years in which a newcomer strategic investor buys a local champion and another positive sign of growing foreign investor interest towards the Ukrainian market.”

Sarantis Group is a leading producer of branded cosmetics & personal care, household products and fragrances in 10 regional markets such as Greece, Poland, Czech Republic, Hungary, Bulgaria, Portugal, Romania, Serbia, FYR Macedonia, Bosnia and Herzegovina, founded in 1930 and headquartered in Athens, Greece. Sales in 2017 reached $388m. The parent company of Sarantis Group is listed on the Athens Stock Exchange. More info at

Ergopack is involved in the production and distribution of branded household products, with the major categories being garbage bags, food packaging and cleaning items for the household. The company’s portfolio consists of 3 major flagship brands: Melochi Zhizni, Domi, and Novax. Ergopack has significant export activities, reaching 46% of total sales realized in ex-USSR and Eastern European countries such as Poland, Latvia, Georgia, etc. More info at

Horizon Capital is the leading private equity firm in Ukraine backed by over 40 institutional investors, managing four funds with assets under management of over $750 million and a tenure of 25 years in the region. More info at

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