Eurocash to acquire Pol Cater Holding

2010-08-03

Eurocash has signed a preliminary agreement with Dansk Cater pertaining to the acquisition of a 100% stake in Pol Cater Holding, a supplier of FMCG to the HoReCa industry. The agreement should be completed by 30 June 2011. The companies still need the approval of the Office of Competition and Consumer Protection (UOKiK). The size of the transaction has not been disclosed, but it will be paid for by Eurocash itself.
As a result of the takeover, Eurocash will strengthen its position on the HoReCa market. Pol Cater, via its subsidiary Dania Fast Food (DFF), is one of the leading distributors of FMCG to the HoReCa industry in Poland. It manages seven distribution centres in Warsaw, Krakow, Katowice, Poznan, Lodz and Gdansk and employs around 170 people. In the fiscal year 2008/2009, which ended on 30 September 2009, DFF earned sales revenues of PLN 92m (€23m) and between 1 October 2009 and 30 March 2010 it earned PLN 70m (€17.5m).
According to the PMR report HoReCa market in Poland 2010 - Market analysis and development forecasts for 2010-2012, the market in Poland is highly fragmented, which means that an important role is played by cash and carry wholesalers, as individual restaurant owners prefer them to specialist distributors. The most common sources of food supplies for food outlets are wholesalers, according to a survey carried out for the report, whereas cash and carry hypermarkets are the second most popular.