Spar moves into Poland
Retailer is buying a controlling interest in Piotr i Pawel Group, which runs 77 delicatessen and supermarkets, with a wholesale distribution network
Retailer Spar is expanding into Poland in search of new revenue streams from one of Europe’s most dynamic economies. The Polish economy recorded real GDP growth of 5.1% in 2018 and unemployment fell to less than 4%, the World Bank has reported. The bank expects growth in the Eastern European country to remain robust on the back of private and government consumption. Spar is buying a controlling interest in the Polish-based Piotr i Pawel Group, which runs 77 delicatessen and supermarket stores, with a wholesale distribution network. The value of the deal, which is pending the approval of Polish competition authorities, was not disclosed. Spar CEO Graham O’Connor said he is excited to take the group into a fast-growing market.
Spar’s plan to go into Poland follows its expansion into Ireland and Switzerland three years ago.Argon equity analyst Bjorn Samuels wanted more details on the deal before passing judgment on it.“Spar’s track record of offshore acquisitions has been a ...
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