Iglokrak and Iglotex, distributors of frozen foodstuffs, are negotiating on a merger. After the fusion, the group would generate annual revenues of between PLN 700-800m (€175-200m). The companies have already applied for the approval of the transaction to the Office of Competition and Consumers Protection (UOKiK). The completion of the transaction is planned by the end of 2010.
Iglokrak, which has been recently acquired by the Penta Investments fund, is one of the largest frozen food distributors in the southern part of Poland. In turn, Iglotex operates in the northern part of Poland, where it is one of the largest players in the segment.
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