RTV Euro AGD and Mars may have new investors soon

APA - Austria Presse Agentur
20-10-2006, 10:25

Warsaw (Puls Biznesu) – Two retailers of home appliances and electronic goods operating in Poland may change their owners soon.

Warsaw (Puls Biznesu) – Two retailers of home appliances and electronic goods operating in Poland may change their owners soon.

 

According to “PB” sources, RTV Euro AGD, a network of 120 shops, may be sold. The three owners of Euro Net developing the network have hired an advisor to help them sell the company. Euro representatives did comment. Tomasz Siedlecki, Euro Net marketing director denied the rumors that Euro would be sold soon. Euro net had PLN 1.01 (EUR 259.7m) billion of sales last year and its net income jumped to PLN 4m from 1.4m a year earlier.

 

That’s not all. According to unofficial sources, Mars is being acquired by Mix Electronics, a company building Mix network. Unfortunately, none of the sides wanted to comment the acquisition of Mars yesterday.

 

However, representatives of the sector, believe there is something going on.

“Dixons group with its Electro World shops has recently come to Poland. The British company was several years late and they are for sure interested in acquisitions. If they buy Euro, they will join the first three biggest electronics retailers in Poland”, the head of one of rival networks commented.

“We do not comment on acquisitions in Poland right now. I cannot either confirm nor deny the rumors. I can assure you that we are closely watching the market and all ownership changes going on and we are not just watching”, Jacek Gruchalski, Electro World Polska general director said.

 

The home appliances and RTV market in Poland was worth PLN 8.6 billion last year.

(PLN 1 = EUR 0.257)

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Podpis: APA - Austria Presse Agentur

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