Mid Europa's Zabka Polska picks up Kefirek

The transaction was financed from Zabka's own balance sheet and existing capex facility.

The deal follows Zabka's acquisition in May of Lux Spolem Zabrze, a chain of 40 stores based in Zabrze and Ruda Slaska. Over the last year, Zabka has acquired seven supermarket and convenience store networks, including Torg, Agap, PS Food, Dobry Wybor, Jedynka. The combined purchases represent more than 200 stores, generating around €120m of annual sales.

Mid Europa acquired Zabka in February 2011 from previous backers Penta Capital for €400m, which at the time represented 13x the company's EBITDA. The CEE-focused private equity house saw off competition from Tesco and BC Partners.

Company
Kefirek, which opened its first store in 1999, operates 30 grocery stores across Krakow.

Zabka is a Polish grocery store chain, founded in 1999. The chain now operates more than 2,800 supermarket and convenience stores in major Polish cities.

People
Zbigniew Rekusz is a senior partner at Mid Europa. Jacek Roszyk is CEO of Zabka Polska.

Advisers
Equity – Vienna Capital Partners (M&A); Beragua Capital (Commercial due diligence); EY (Financial due diligence); CMS Cameron McKenna (Legal).

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• Topics
• Portfolio management
• CEE
• Mid Europa Partners
• Poland