Polish retailer Eurocash has acquired 49% of the shares in Arhelan, which operates over 100 retail stores in north-eastern Poland.
The investment in Arhelan is in line with the development strategy of the group, it said in a statement.
Regional Retailer
Arhelan is one of the largest regional supermarket chains in Poland, operating in the Podlaskie, Mazowieckie, Lubelskie, and Warmińsko-Mazurskie provinces.
The group has been operating since 1991 and employs almost 2,000 people, with sales revenues exceeding PLN 500 million (€108 million) in 2020.
The deal means that Eurocash gains a partner for the joint development of a retail network in north-eastern Poland, ultimately as part of the Delikatesy Centrum franchise structure.
'Many Years Of Cooperation'
Jacek Owczarek, member of the management board of Eurocash Group, complimented the company's new partner, saying, "thanks to many years of cooperation in the field of wholesale supply, we had the opportunity to learn about the operating philosophy of this chain.
"We have great respect for the people who created this organisation from scratch and successfully manage it in a very competitive market."
The agreement concluded by the parties includes that, at a later date, Eurocash will acquire an additional 1% stake in Arhelan, thus increasing its stake to 50%.
The transaction is subject to the fulfilment of a number of conditions, in particular obtaining the consent of the President of the Office of Competition and Consumer Protection.
© 2021 European Supermarket Magazine – your source for the latest retail news. Article by Conor Farrelly. Click subscribe to sign up to ESM: The European Supermarket Magazine.
