Eurocash acquired Mila retail chain for PLN350m.

Eurocash Group signed a final agreement on the acquisition of 100% of shares in Cyprus-based Domelius Limited, which controls Mila – the owner of a chain of 187 supermarkets located primarily in central Poland. The transaction is the next stage of strengthening the market position of thousands of independent entrepreneurs running retail stores in Poland. Thanks to the deal, the Group's Customers will benefit from an enhanced logistics infrastructure as well as increased purchasing scale, which will improve the competitive position of independent retail stores in Poland. The transaction to acquire the Mila chain was valued at PLN350m. That figure excludes select real estate assets which were not acquired by Eurocash. “Now that the transaction is finalised, we can begin a smooth integration of our businesses. It will be a period of intensive exchange and implementation of best practices of both chains, i.e. Mila and Delikatesy Centrum. The acquisition of Mila is very valuable to us as it will lead to the transfer of know-how and experience to our franchisees and partners. Thanks to the transaction, the Group's Customers will benefit from an enhanced logistics infrastructure as well as increased purchasing scale, which should improve the competitive position of independent retail stores in Poland. One can say that independent retailers are starting to re-acquire the market that has so far been dominated by large format chains,” said Jacek Owczarek, CFO and member of Eurocash Group’s management board.