Penta Investments, the owner of retail chain Zabka, signed the agreement for the acquisition of 100% stake in PR market. Under the brand Koruna, the PR market operates 45 supermarkets in the Czech Republic (Northern Moravia and Silesia region).
The volume of the transaction has not been made public.
“Almost 2 years ago we started with the expansion of Zabka in the Czech Republic. Currently, we operate 100 units. Our ambition is to lead the consolidation of an independent retail market in Poland and the Czech Republic. Thus Koruna is the first acquisition, the next will follow,” Jacek Roszyk, president of Zabka Polska said.
“In the Czech Republic, along with the convenience Zabka format, we will develop supermarket formats of Koruna, which is consistent to our Freshmarket and Zabka project in Poland,” Jozef Janov, Local Partner of Penta for Poland added.
Both of the brands (Zabka and Koruna) will utilize the synergies in unifying the purchase, logistic operations, information technologies and the management of the chain. The customer will get benefits from adding new products, services and more favorable prices.
The transaction is a subject of the Czech Antimonopoly Office approval, which is expected within two months.
About PR market (Koruna)
- PR market was established in 1994 by 8 Czech private individuals.
- The company operates 45 supermarkets with the average size of 380 m2.
- Koruna offers the wide assortment of grocery, dry goods and other additional assortment.
- In 2009, the company reached roughly revenues of EUR 50 million.
- Koruna has roughly 600 employees.
About Zabka Polska
- Zabka Polska was established in 1998, currently it operates more than 2100 convenience shops and 15 Freshmarkets (supermarket format)
- In 2010 Zabka plans to open 250 shops and 50 Freshmarkets and intends to grow at this pace for next 3-5 years.
- According to preliminary figures for 2009, the company has achieved a double digit growth of sales (15.5% and 2.6 billion PLN), which ranks Zabka as one of the most dynamic company within its segment.
- In 2010 the investments of PLN 80 million are planned into new locations
About Zabka Czech Republic
- In 2008 Zabka entered the Czech market by opening the first shop. Currently it operates 100 shops with an average size of 90 m2, thus became the fastest growing independent retail chain in the Czech Republic.
- In 2010 Zabka plans to add 60 more shops organically, currently it operates in Prague and the regions in Central and Western Bohemia.
- In 3 years Zabka plans to operate 250 shops.