Traffic Club founder to take over Matras
22:34
Book sector businessman Jerzy Kowalewski will take over bookstore network Matras. A company of his is buying 100 percent in the retailer, Matras said in a press release on Thursday.
The deal value was not disclosed, but it is estimated to be around PLN 40 million, according to Puls Biznesu. Other bidders for the network were publisher Wydawnictwo Znak, book retailer Firma Księgarska Olesiejuk and a consortium of publishers, the daily wrote.
Matras was until now controlled by funds from the SEAF group. Founder Jan Sieracki and CEO Mariusz Rutowicz held minority stakes.
Kowalewski has been active in business since 1986, but his first business, a distribution firm, went bankrupt in 1992. His best-known venture was Warsaw bookstore Traffic Club, which had to be closed down after ten years of operation.
