CVC Capital Partners to acquire Żabka

Investment fund CVC Capital Partners will buy the convenience store chain Żabka from Mid Europa Partners. “"Żabka is the clear market leader in the modern convenience segment, with a high-quality business model and a talented leadership team. We look forward to working with the management as we continue to capitalise on growing market opportunities, enhance the existing store network and in the process create an international benchmark for modern convenience offering,” Krzysztof Krawczyk, head of CVC Poland said in a press release. The value of the transaction has not been disclosed, but the asking price was set at €1 billion. CVC and another investment fund, TPG were asked to present their final bids earlier this month. Żabka owns over 4,500 convenience stores in Poland, with PLN 6 billion of annual revenue. The transaction needs to be approved by the antimonopoly watchdog UOKiK.