Funds advised by CVC to buy Polish convenience retailer Zabka Polska
Funds advised by CVC Capital Partners will purchase Żabka Polska from Mid Europa Partners.
The investment is subject to customary regulatory approvals.
Founded in 1998, Zabka is the leading Polish convenience retailer. In the last 19 years, Zabka has grown from a single convenience store in Poznan to a country wide network of 4,500 stores all operated by 3,000 talented and entrepreneurial franchisees.
CVC CEE partner and head István Szoke said: "I am delighted to announce CVC Funds' second direct investment in Poland, demonstrating our long-term commitment to the country and the Central European region. With our office and local team in Warsaw and CVC’s global reach we are best placed to support CVC Funds' portfolio companies in Poland."
CVC Poland head Krzysztof Krawczyk said: "Zabka is one of the clear market leaders in the modern convenience segment, with a high-quality business model and a talented leadership team. We look forward to working with the management as we continue to capitalise on growing market opportunities, enhance the existing store network and in the process create an international benchmark for modern convenience offering."
Zabka CEO Tomasz Suchanski said: "We are delighted to join the CVC family, with its strong track record globally in building great businesses in partnership with stakeholders. Their retail expertise and understanding of the local Polish market will be invaluable to us as we enter the next phase of our development."
CVC was advised by Greenberg Traurig, PwC, Pekao, UBS, Bain and McKinsey. ING, Pekao and Unicredit provided the financing.
Source: Company Press Release