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Ecorse Investments has purchased 58,61% of EKO Holding Group shares

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Warsaw, October 23, 2012 - Ecorse Investments, a company indirectly owned by funds managed by Advent International Corporation (Advent), a leading global private equity fund, announced today that it has purchased 58,61% of EKO Holding Group shares, giving it control of the Group.

First settlements have already taken place. Ecorse now owns 28 492 014 of EKO shares. The tender offer for 100% of shares remains outstanding until October 29th, 2012.

Tamas Nagy, Partner at Advent International, said:

“Advent is pleased with the successful purchase of a majority stake of EKO Holding by Ecorse Investments. We look forward to working together with the management, employees and other shareholders in finalising the necessary changes in the company and to reposition it for growth in an increasingly competitive market. Advent brings to this investment 27 years of experience in partnering with founders, management teams and co-investors in successfully restructuring and developing retail businesses globally”

As part of the necessary restructuring, Advent’s intention is to improve the value proposition for customers, introduce best in class processes and operating standards and accelerate the roll-out of new supermarkets.

Paweł Ryszkiewicz, Director at Advent International, said:

“EKO Group today consists of more than twenty companies active in a number of different and diverging markets. We believe that a focused business model and active ownership will be important drivers of the company’s development and success. EKO needs to focus on driving the scale and capability of its core supermarket business. It is therefore Advent’s strategy to simplify the company’s structure, dispose of non-core assets and to ensure that the management’s full attention and the company’s resources are dedicated to competing  in  this extremely challenging market.”
 
As part of the investment, Advent International is bringing to EKO Holding its considerable expertise and experience in the retail sector internationally. The firm has invested in 10 companies in the sector over the last five years alone. Relevant investments include Serta & Simmons Bedding, DFS, Five Below, Takko, Stokomani, and Poundland.


About Advent International

Founded in 1984, Advent International is one of the world’s leading global buyout firms, with offices in 16 countries on four continents. A driving force in international private equity for 27 years, Advent has built an unparalleled global platform of over 160 investment professionals across Western and Central Europe, North America, Latin America and Asia. The firm focuses on international buyouts, strategic repositioning opportunities and growth buyouts in five core sectors, working actively with management teams to drive revenue growth and earnings improvements in portfolio companies. Since inception, Advent has raised €19.4billion in private equity capital and, through its buyout programmes, has completed over 270 transactions in 35 countries. Since inception, the Advent funds completed 149 IPOs on 27 stock exchanges around the globe.

For more information, visit www.adventinternational.com.

About EKO Holding group

EKO Holding Group concentrates its activity on a supermarket chain. The Group operates a number of stores including 305 EKO stores, ca. 800 Rabat franchise stores and 165 Jasmin franchise drugstores. The Group also owns Polska Grupa Drogeryjna Ltd. (PGD) a wholesaler of household chemicals and cosmetics.

Contacts


Tamás Nagy

General Manager, Germany

T: +49 (69) 257 869710
Office details

Monika Morali-Efinowicz

Managing Director, Head of Warsaw, Poland

T: +48 22 627 5141
Office details