Eurocash (WSE: EUR) announces that signed a binding preliminary deal with Pelican Ventures and two other firms (Ledi and Jim) to buy 100% in retailer Eko Holding that runs a network of 250 stores. In this way Eurocash will assume control of a network of more than 250 grocery stores in south-western Poland.
No price tag for this transactions was disclosed.
The store chain generated sales of nearly PLN 1 bln in 2015.
Eurocash Group is the largest group in Poland, engaged in wholesale distribution of food products, household chemicals, alcohol and tobacco (FMCG).
Since February 2005 Eurocash SA, is listed on the Stock Exchange in Warsaw.