Kolporter becomes second largest press distributor

Kielce based press distributor Kolporter S.A. has bought 82% more shares in the Warsaw based press distributor Jard-Press, bringing its stake in the company to 100%. The company estimates that its revenues for 2002 will grow to reach zl. 1.6 billion, with net profits of around zl. 18 million. This successful takeover now means that Kolporter controls 35% of the market and puts it in second place after the state owned distributor Ruch, which controls about 55% of the market. The purchase was accepted by the Office for Competition and Consumer Protection. Kolporter did not want to reveal how much it paid for the shares, but unofficial sources place the value of the transaction at $7.5 million. The company had 17,000 points of sale before the takeover. (Rzeczpospolita, B3) A.L.