Mid Europa Partners, the largest private equity firm focused on
Central and Eastern Europe announced today that it has signed an
agreement to acquire 100% of Zabka Polska S.A. ("Zabka"), the
leading convenience store chain in Poland, from Penta
Investments.
Zabka, with 2010 revenues of approximately €650 million is among
the fastest growing and largest retail chains in Poland with over
2,450 stores operating across the country under the Zabka and
Freshmarket brands. Over the last three years, under the
guidance of the Management team, which will co-invest along-side
Mid Europa, Zabka has opened over 460 new stores, launched the new,
Freshmarket retail concept and increased its profitability by
nearly 40%.
Zbigniew Rekusz, Partner of Mid Europa and head of its Warsaw
Office, commented: "We have been highly impressed with the Zabka
management team's track record of delivering strong financial
performance, while managing rapid expansion in the Polish retail
market. We look forward to working closely with them and
supporting Zabka's further growth, both organically and through
acquisitions."
Matthew Strassberg, Partner of Mid Europa who co-heads Mid
Europa's Polish origination, said: "We recognize the strong organic
and consolidation growth opportunities available in Polish retail
sector. Our investment in Zabka is consistent with our
strategy of supporting leading market players with impressive track
records operating in markets with attractive growth and
consolidation opportunities."
Jacek Roszyk, CEO of Zabka, said: "We are enthusiastic to team
up with Mid Europa Partners, who share our vision for the growth
prospects of Zabka and bring the relevant resources and expertise
to support our ambitions to become one of the top retail networks
in Poland."
The transaction was executed by Pawel Padusinski and Tomasz
Blicharski from Mid Europa.
Mid Europa Partners was advised in this transaction by Vienna
Capital Partners, Cameron McKenna, Beragua Capital and PwC.