Vistula and Wólczanka to merge into super-clothier

Shareholders of Vistula and Wólczanka approved a plan to merge the two companies. The largest shareholder of the merged companies will be Supernova Capital with a 24% equity stake. The merger will result in the creation of an apparel producer with annual revenues of zł.250 million and net profits of zł.25 million. The combined sales network will consist of 170 outlets and the number is to grow to 200 by the end of the year. The main benefit of the merger will be a reduction of costs related to management, sales and logistics. It will bring zł.3.1 million in savings this year and zł.11.8 million next year. The cost of consolidation is estimated to reach zł.7 million at most. (Parkiet, p.5) E.B.