Cosmetic producer Kolastyna set to expand its activities

Łódź-based cosmetics producer Kolastyna, which recently took over a 67% stake in Kraków-based competitor Miraculum, is now thinking about further takeovers. "We are thinking about companies from Central and Eastern Europe, on either the Russian or Czech markets," announced Andrzej Grzegorzewski, president and co-owner of Kolastyna. He also added that preliminary talks have not yet been started, but the company has already spotted a few good firms. Foreign investments are another phase of the company's strategy, according to which it would create a strong capital group. Kolastyna is currently restructuring Miraculum and "We are trying to improve the marketing and advertising activities of the firm," added Grzegorzewski. He also stressed that details for developing Kolastyna will be announced in about 2-3 months, after analyzing its current situation. Grzegorzewski also added that Kolastyna would invest in developing the Miraculum brand both at home and abroad, which might be substantially supported by its Russian shareholders. (Rzeczpospolita, p. B4) M.M