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Eurocash to invest in Frisco.pl

2014-12-02
Eurocash to invest in Frisco.pl

Following a partial buyout of Frisco.pl’s existing shareholders and a recapitalisation, Eurocash – the leader in food and FMCG distribution in Poland – will hold about 44% of shares in Frisco.pl. MCI will remain the company’s majority shareholder.

Bringing in Eurocash as a significant investor is a growth milestone for our store. The funds raised in this financing round will enable us to not only continue executing Frisco’s development strategy as Warsaw’s leading online supermarket, but also open up an opportunity for us to scale up the business, including through an effective launch of our full offering in other large cities in Poland within a shorter timeframe than previously expected,” says Nicolas Jedraszak, Frisco.pl CEO.

Frisco.pl is one of the largest players on the Polish online grocery shopping market, with a modern, effective logistics platform. The company sells only through the online channel therefore, unlike the other players on this market, online sales are not subsidised by a brick-and-mortar business. Frisco.pl will be a platform for us to gain experience in the e-commerce segment. This agreement makes it possible for us to become the company’s majority shareholder in the future. We are hoping that the know-how we gain will let us develop solutions aimed at reinforcing the competitive position of our clients – independent grocery stores,” said Pedro Martinho, member of Eurocash’s management board.

Having a strong partner such as Eurocash join the group of investors in Frisco.pl serves as positive verification of our investment strategy in the e-commerce area and confirmation of Frisco.pl’s massive growth potential. Our mutual objective is to continue building the value of this company. The support of Eurocash will create substantial synergies for Frisco in procurement and logistics, but most of all it will speed up implementation of the company’s growth strategy, enabling it to grow its operational scale,” said Adam Jarmicki of MCI Management S.A.

Frisco.pl has been reporting double-digit sales growth in recent years. The company’s annual revenue exceeds PLN 30 million. It offers an outstanding distribution model for e-commerce in the Polish market. A dedicated logistics centre and a unique system mean that customer orders can be fulfilled in hourly delivery windows, with products being 100% in accordance with the order. The Frisco.pl store is recommended by 98% of its clients.

 

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