Locked content Meat producer Gobarto buys Cedrob for PLN 78 mln

Gobarto has signed an agreement with Cedrob on the acquisition of 100 percent of shares in meat producer ZM Silesia and 25 stores forming Cedrob’s retail chain. The value of the deal is PLN 78 million. The transaction is a part of expanding Gobarto’s production and distribution segment as set in its...

Locked content Tourism grows 6.7% y/y in H1 2017 – GUS

In the first six months of 2017, a total of 14.2 million people stayed in hospitality facilities in Poland, including 2.9 million foreigners, GUS informed. The number of tourists in total increased by 6.7 percent compared to the corresponding period of last year. The majority of tourists stayed in h...

Locked content Gobarto acquires meat producer Jama

Gobarto has acquired wholesale meat producer Jama, based in Wałbrzych, Gobarto stated in a market filing. The base value of the transaction is PLN 12 million, which may change depending on the value of the balance sheet upon closing. In April 2017, Gobarto entered into a conditional purchase agreeme...

Locked content UOKiK launches proceedings agains three banks

Consumer watchdog UOKiK has initiated proceedings against lenders BPH, PKO BP and Pekao in relation to the way the banks calculated spreads on mortgage loans denominated in foreign currencies, UOKiK stated. The consumer protection office is alleging that the banks used imprecise wording in their mor...

Locked content CCC with slower sales growth in October

Footwear retailer CCC recorded consolidated revenue of PLN 466 million in October, 1.2 percent higher than in October 2016, the company stated. For the first 10 months of the year, revenue stood at PLN 3.3 billion, marking a 30.9 percent increase y/y. Revenue in traditional stores was 6.9 percent lo...

Locked content LPP with 7% revenue growth y/y in October

Fashion retailer LPP has posted consolidated revenue from sales of PLN 657 million in October, marking a 7 percent increase y/y. For the January-October period, revenue amounted to PLN 5.544 billion, which is 16 percent higher than in the corresponding period of last year. Gross sales margin in Octo...

Locked content A2 construction in 2017-2024 with ministry approval

The Ministry of Infrastructure and Construction has approved 22 investment road construction programs, whose total value is estimated at over PLN 3.75 billion, the ministry stated. The approved projects include the construction of the A2 highway between Warsaw and Siedlce, eastern Poland, which will...

Locked content PE fund acquires food producer Hortex

Private equity fund Mid Europa Partners has signed an agreement to acquire 100 percent of shares of juice, drinks and frozen fruit and vegetable producer Hortex from a fund controlled by Argan Capital, they buyer stated. The deal is subject to an approval from consumer watchdog UOKiK and it is set t...
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Economic patriotism increases by 13% in 2017 – poll

Nearly half of Poles (46 percent) admitted to making purchase decisions based on whether the product was produced in Poland, which is 13 percentage points more than in last year’s survey, according to pollster CBOS. Economic patriotism is the third most important criterion for those surveyed, follow...