After a somewhat chaotic bidding process that seemed to change almost on a daily basis, Mid Europa has emerged as the winning bidder for Poland’s leading convenience store chain, Zabka Polska. Mid Europa acquires 100% of the company from Penta Investments, pending regulatory approval, after more than three tumultuous months in which investors were not completely sure of Penta’s plans. In November of last year the Czech investment firm was considering both a partial IPO and an outright sale to a private investor.
Among the other bidders for Zabka Polska were Bain Capital, BC Partners, Carrefour, and Tesco. Penta acquired Zabka in a deal with AIG Global Investment Group and Switalski & Synowie in 2007. They sold the company’s Czech assets to Tesco late last year.
Zabka Polska (www.zabkapolska.pl)
Among convenience store chains in Poland and the CEE region, Zabka Polska is the largest with nearly 2,500 total outlets. In just the last three years the company has experienced tremendous growth with the launch of 460 new stores and their new Freshmarket brand.
2010 sales revenues were up 42% over the previous year at more than EUR 625 million. Based in Poznañ, Zabka stores typically sell a modest selection of grocery items as well as convenience items like tobacco, magazines, coffee, alcoholic beverages, snacks, and some household goods.
Mid Europa Partners (www.mideuropa.com)
Mid Europa Partners was founded in 2005 as a successor of EMP Europe Ltd. Mid Europa focuses on Central and Eastern Europe and operates in the telecoms and media, healthcare and pharmaceuticals, energy and utilities, transportation and logistics, manufacturing and basic industries sectors. The company manages three funds, totaling EUR 3.2billion, though which it has implemented twenty seven investment projects in fifteen countries.