Sfinks Polska to take over Da Grasso

Restaurant company Sfinks Polska has signed a letter of intent to take over pizza restaurant chain Da Grasso. Both parties to the deal agreed to finalize the negotiations before July 14. If concluded, the value of the transaction would stand at PLN 55 mln and would be completed before March 31, 2016. "The purchase of Da Grasso is part of our development strategy. With Da Grasso comes a recognizable brand, satisfied customers and a large network of restaurants. We believe that upon the successful completion of the transaction, it will be the second, beyond Sphinx, strategic brand in our portfolio... We believe that this acquisition will have a positive impact on our results in the coming years," said Sylwester Cacek, CEO of Sfinks Polska. Cacek also said that he doesn't exclude a foray into foreign markets. Sfinks Polska is the largest restaurant company from the casual dining sector in Poland and one of the largest companies in Europe. The company runs chains such as: Sphinx, WOOK and Chłopskie Jadło; at present, within those three chains, 109 restaurants function in Poland.