E.Leclerc plans takeovers rather than opening new stores

This would mean investments amounting to zł.80 million each year, which adds up to zł.800 million over ten years. "We might take over stores or even whole chains. The group is interested in taking over stores with at least 1,500 square meters of space," said Gajewski. It will introduce new brands to the market, such as Espace Culturel in Lublin, which will offer press, books and multimedia. "Funds for investments originate from profits generated in Poland. Polish E.Leclerc is not indebted to the parent company in France," said Michel-Edouard Leclerc, son of the company's founder. In 2005 the firm should see its turnover increase to zł.1.7 billion a growth of 7% in comparison to the previous year. (Puls Biznesu, pp. 1, 10) M.M.