MidEuropa eyes retail takeovers, to expand Żabka network

Courtesy of Źabka

MidEuropa Partners, the new owner of Polish convenience store chain Żabka, hopes to expand further in Poland's retail sector, reported Parkiet.

“We are already in talks with three companies, it is a good time for acquisitions,” Zbigniew Rekusz, a partner at MidEuropa, told the newspaper.

Mr Rekusz added that Żabka also has a great deal of potential. At present, there are over 2,500 Żabka stores in Poland, but the chain is set to continue to expand rapidly, with 250 new stores planned in 2012.

Freshmarket, one of Żabka's branches, is also growing, with 100 new facilities set to open next year. These stores are larger than Żabka's, offering a greater variety of produce along with a mini-cafe.

MidEuropa expects Żabka's profits to increase by 20 percent, despite a general slowdown in the food retail industry.

MidEuropa purchased the Żabka convenience store chain back in February for a reported €400 million.

Poland A.M.