DIY chain Nomi looks to huge Polish expansion

One of Enterprise Investors' (EI) funds, the Polish Enterprise Fund IV has purchased a 100% stake in Nomi from Kingfisher, a British supermarket operator, for a price of zł. 45 million. Nomi is a chain of 39 shops selling household and garden equipment, in 38 cities across the country. "In the coming months we will be working on a short and mid-term strategy for the company," announced Stanisław Knaflewski, a partner in EI. According to EI representatives the goal is to match all outlets to a uniform look, so that it will be precisely addressed to the target group, which in this case make inhabitants of small and medium sized cities. The company also plans to increase its network to be present in 80 cities and obtain 15%-20% market share of Do-It-Yourself supermarkets. Nomi closed 2002 with zł. 400 million in revenues with a net profit of zł. 1.4 million. This year's revenue prognosis is set at zł. 500 million. (Parkiet, p. 4) A.K.