Polish retail group Eurocash has signed a letter of intent to acquire a 100% stake in supermarket chain Mila, according to reports by Wiadomości Handlowe.
Mila's owners - Argus Retail Holding, Elbrus Investment fund, Robert Kasner, Robert Zaleski, and Stanislaw Sosnowski – have given Eurocash an exclusive right to close the transaction until 8 September. This means that the seller will not conduct any dealings with entities other than Eurocash during the exclusivity period.
Potential Deal
The potential deal could see Eurocash take full control of the Mila retail chain, which includes 188 supermarkets in Poland. In 2016, the retailer's sales amounted to PLN 1.49 billion (€348.8 million) and EBITDA was PLN 4.8 million (€1.12 million).
Eurocash is the largest wholesale distributor of FMCG products in Poland, with market share reaching over 26%. The company manages a network of about 14,000 franchise stores, as well as its own under a number of banners, including Lewiatan, Eco, Delicatessen Center, ABC, Euro Sklep and Groszek.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine
