Eurocash to buy 'Inmedio' convenience stores
June 12, 2014
Eurocash trader signed a preliminary agreement to buy a 51% stake in firm operating the Inmedio chain of press shops from French Lagardere, as well as a franchise deal for developing the chain of '1minute' convenience stores, Eurocash said in a market filing.
Following the 'Inmedio' transaction, Eurocash will gain control over 410 press shops located across Poland, primarily in shopping centers, the firm said.
Inmedio's operational management will continue to be handled by Lagardere unit HDS Polska, while Eurocash will focus on supply and development through franchise, Eurocash management board member Jacek Owczarek said.
Under the franchise deal, signed between Eurocash and Lagardere units ECC and HDS Polska, Eurocash will develop the chain of '1minute' convenience stores, which currently consists of 70 locations in Poland, Eurocash said.
Inmedio shops offer FMCG products including press & books. Selected Inmedio locations also offer bill payment, cash transfer and courier services. 1minute convenience stores offer groceries, alcohol, other FMCG, as well as heated fast food.
HDS Polska currently manages some 740 retail locations in Poland.