Largest Polish company dealing in the wholesale FMCG distribution Eurocash acquired Frisco for PLN 132.5 million. The purchase transaction was financed from a loan granted by the European Bank for Reconstruction and Development (EBRD) in the amount of €50 million.
Frisco.pl is the leader of the Warsaw e-grocery market, it is one of the largest and longest operating online supermarkets.
“Thanks to the acquisition of Frisco, our Group will gain knowledge and extensive experience in online sales, which will allow us to further develop this area for our customers, owners of independent retail stores,” Jacek Owczarek, member of the management board of Eurocash Group said.
The Eurocash Group has been a strategic shareholder of Frisco since 2014, with shares at 44 percent of share capital. In December 2019, the Company decided to increase its involvement in Frisco and take over the remaining 56 percent of shares from MCI funds.