Squire Patton Boggs’ Private Equity team in Warsaw has acted for Resource Partners on its acquisition of 70% of shares in the leading dermatology cosmetics manufacturer in Poland, Torf Corporation − Fabryka Leków Sp. z o.o., well known in the local market for its Tołpa brand.
The deal marks the first buyout from the GP's newest fund, Resource Eastern European Equity Partners II (REEEP II), which launched in 2016. Resource Partners is an accomplished private equity investor, focusing exclusively on equity investments in Central and Eastern European (CEE) countries. Resource Partners was established in 2009 to pursue mid-size, growth-oriented investments in Poland and other CEE countries.
Torf was founded in Poland in 1989 by Barbara Piasecka Johnson and botanist professor Stanisław Tołpa as a pharmaceutical company. It has since become a leading dermatology cosmetics and health and beauty products manufacturer in Poland, with its own brands as well as private label goods supplied across Europe and globally.
The team advising Resource Partners was led by Corporate partner Michał Karwacki in Warsaw and included partner Marcin Wnukowski and of counsel Paweł Magierowski.