Żabka Group has received consent from the Romanian antitrust office to take over majority shares of the FMCG distribution leader in Romania – DRIM Daniel Distributie, the company announced. As a result of this decision, on February 29 this year Żabka Group has met all regulatory requirements and finalized the transaction.
The formal takeover of majority shares in DRIM Daniel Distributie enables the further, accelerated development of the company announced by the Żabka Group, taking advantage of the market position, local reputation of DRIM, know-how in the area of convenience and capital commitment, it was reported.
“We were pleased to receive the information about the completed formal process of merging DRIM Daniel Distributie with the Żabka Group. This is the next stage towards the development of the convenience ecosystem on the European market and our further expansion. We hope that strategic cooperation with DRIM will influence the further, dynamic development of this company” – he said CEO of the Żabka Group, Tomasz Suchańskiquoted in the release.
DRIM Daniel Distributie is one of the largest distribution networks of FMCG products on the Romanian market, which currently employs over 800 people. Over the course of 30 years of operation, the company has created a broad logistics structure that currently allows it to supply approximately 12,000 traditional trade stores.
Last December Żabka Group announced that it had acquired majority shares as a result of a partnership with one of the leaders in FMCG distribution in Romania – DRIM Daniel Distributie, and the transaction will be finalized after meeting all regulatory requirements. The long-term development and prospects of the Romanian market and the consumer profile similar to the Polish one make Romania a natural geographical direction for the Group's expansion. This step was preceded by an analysis of the Romanian market, including the preferences of local consumers. Through its operational presence on this market, the Żabka Group will gain knowledge and experience, which will allow it to decide on possible further investments in Romania and the selection of appropriate areas for development from the Group's wide portfolio, it was emphasized then.
The Żabka Group includes: Żabka Poland (responsible for retail activities, including managing the chain of convenience stores and the nationwide logistics network of the Group), Żabka Future (responsible for accelerating the creation of a digital convenience ecosystem with synergies between its parts and ensuring optimal technology for the multi-directional development of the Group) and FrogInternational (responsible for implementing foreign expansion), company Macfit (dietary catering market) and Dietly.pl (e-commerce platform).
(ISBnews)
