Poland: UFT delicacies distributor looks for investor and plans IPO

APA - Austria Presse Agentur
opublikowano: 16-03-2005, 13:01

Warsaw (Puls Biznesu) – Uno Fresco Tradex (UFT), Polish biggest delicacies company, after restructuring in 2004 increased net rentability from 1.3 to 3.9 percent. The company is getting ready to an IPO which is planned for the year 2006. ‘A private equity fund will help us at the listing.

Warsaw (Puls Biznesu) – Uno Fresco Tradex (UFT), Polish biggest delicacies company, after restructuring in 2004 increased net rentability from 1.3 to 3.9 percent. The company is getting ready to an IPO which is planned for the year 2006. ‘A private equity fund will help us at the listing. The fund will acquire 20 percent stake’, Marian Owerko, UFT CEO and one of six owners of the company said. Talks are being held with two funds. The investor will be chosen till May-end. According to its CEO, UFT may be listed even without the investor.

The company wants to raise funds on the bourse to increase its offer. ‘There are attractive segments on the food market without a decisive leader’, Marian Owerko explained. The funds would be spent on acquisitions and developing new product lines. UFT wants also to take part in the consolidation of the delicacies market, where 200 companies are present today. The company is negotiating with several possible targets.

This year, UFT plans to increase sales to PLN 135-140 m (EUR 33.2-43.4 m) from PLN 123 m in 2004. New contracts with retailers, including Zabka, Lidl and Kaufland, should help improve results.

(PLN 1 = EUR 0.246)

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Podpis: APA - Austria Presse Agentur

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