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    Pholida Barclay, +1 212 632 3204, pholida.barclay@franklintempleton.com

    Darby Private Equity Invests in Fifor Polska Sp. z o.o.

    Warsaw, Poland and Washington, DC, May 20, 2016 – Darby Private Equity (“Darby”), the private equity arm of Franklin Templeton Investments, announced that Darby Converging Europe Fund III (SCS) SICAR (“DCEF III”) has completed an investment in Fifor Polska Sp. z o.o. (“Fifor”) in providing growth capital and acquiring a minority stake in the firm.

    Financial details of the transaction were not disclosed.

    Fifor is a dedicated Polish private label manufacturer of salty snacks (mainly potato chips and cornmeal snacks). The business was launched in 2013 by Epaminontas Mitzalis, who remains as the majority shareholder and will continue to manage the business going forward.

    “By receiving a significant amount of new expansion capital from DCEF III, we will be able to continue investing in our production capacity and efficiency to respond to the growing needs of the modern retail market. We will also ensure that the firm maintains the highest quality standards, the importance of which is constantly increasing in the private label space,” said Mitzalis. “We believe that this investment is proof of confidence in our business model and our position as a valuable strategic partner to both our clients and suppliers,” he added.

    “We are delighted to partner with Epaminontas Mitzalis, a successful entrepreneur, who for the last 25 years has played a vital role in developing the salty snacks industry across several countries in the Central & Eastern Europe. Combining Fifor’s management team’s experience with the enhanced production potential the new investments brings, we are confident that Fifor will strengthen its position as one of the leading dedicated private label snacks suppliers in the region. We also believe that in following its strategy to focus on production efficiency and product quality within the private label space, the company is uniquely well-positioned to become a reliable long-term partner to retailers across the wider European Union,” commented Michal Jozwiak, Vice President in Darby’s Warsaw office.

    DCEF III has previously made three investments in Turkey, two in Hungary and one in Latvia. Including DCEF III, Darby manages two Central and Southeast Europe dedicated funds, which have collectively made 23 investments in the region.

    About Darby Private Equity
    Darby Private Equity was founded in 1994 by The Honorable Nicholas F. Brady, who served as U.S. Secretary of the Treasury between 1988 and 1993. Richard Frank joined the firm as CEO in 1997 after his career at the International Finance Corporation (IFC)/World Bank. In 2003, Darby became a fully owned subsidiary of Franklin Resources, Inc. [NYSE:BEN], a global investment management organization operating as Franklin Templeton Investments. For more information, please visit darbyoverseas.com.

    About Franklin Templeton Investments
    Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management to retail, institutional and sovereign wealth clients in over 180 countries. Through specialized teams, the company has expertise across all asset classes -- including equity, fixed income, alternative and custom solutions. The company's more than 600 investment professionals are supported by its integrated, worldwide team of risk management professionals and global trading desk network. With offices in 35 countries, the California-based company has more than 65 years of investment experience and over $747 billion in assets under management as of April 30, 2016. For more information, please visit franklintempleton.com.


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