Kerdos takes over Luxembourgish Meng Drogerie+

Kerdos Group has signed an agreement regulating conditions of acquiring a 24.77 percent stake in Luxembourgish drugstore chain Meng Drogerie+. The final takeover deal will be signed before September 30, said Kamil Klinewski, CEO of the company. "Considering all the transactions to date and those planned, we are taking over Meng Drogerie+ for €13.2 million. We are very pleased with the price obtained and we are set to finalize the transaction as soon as possible," said Kliniewski quoted in a statement. Kerdos currrently owns 49.78 percent shares in Meng Drogerie+. Kerdos is a holding company focused on trade operations in the hygiene and household cleaning product segments. It recorded PLN 220 million of revenue in 2014.