Warsaw (Puls Biznesu) – Small can producers
are not able to compete any longer. One of them has been acquired by listed
Graal said yesterday, it had bought a canned fish producer from Lebork: Dos.
Last year, Dos had PLN 25.5m of sales and PLN 0.5m of net income.
“This year, Dos results will be similar because they were hit in the first
half of the year by strong zloty. We want to keep the same level in 2009.
Considering the crisis, this is an ambitious target”, Robert Wijata, Graal
member of the board said.
Dos exports half of its products, which is a high ratio in comparison to its
rivals. In addition, several of Graal’s rivals are in Dos’s portfolio, including
“We will get access to our rivals’ know-how”, Robert Wijata stressed.
Dos’s debts are not big. The company has already conducted investments
co-financed with EU funds. Artur Iwanski, Erste Securities analysts, believes
that the acquisitions reflects the situation in the sector.
“This is a very scattered and low-margin market. Small companies are not able
to compete any longer and the only solution is to sell to a stronger player.
Relatively low price for 100 percent of Dos confirms this”, Artur Iwanski