Allegro's new owners looking for more deals in Poland

The three private equity funds that bought Polish auction website Allegro from South Africa's Naspers last week are targeting more investments in Poland and in the region, they said. Cinven, Permira, and Mid Europa bought Allegro and Ceneo from Naspers for $3.25 billion in one of Poland's biggest takeover deals.

While Mid Europa has been present in Poland for over 15 years – retail chain Żabka is its flagship investment – the Allegro purchase is Cinven and Permira's first in this country. The three said they were all looking at investment opportunities in Poland, although not necessarily together.

“We have looked at several potential assets in Poland and we continue to do so. However, we invest first and foremost on a sector basis. So we like Allegro as an e-commerce business,” Cinven senior principal Thomas Railhac told Reuters.

An Allegro IPO is a possibility. “Given the characteristics of the Allegro business, the brand on the Polish market, the long-term growth prospects, it could be an attractive IPO candidate further down the line,” Permira partner Richard Sanders said.