Polish retailer Eurocash Group has announced that it has agreed to acquire close to a 56% stake in the online grocery retailer, Frisco SA, from MCI Funds.
The value of the transaction, expected to close in June of this year, has not been disclosed.
President of Eurocash Group, Luis Amaral, commented, "The investment in Frisco is another element of our strategy focused on supporting independent trade in Poland through the development of innovative retail formats and technological solutions."
In 2014, Eurocash Group entered into a strategic partnership with Frisco and acquired 44% worth of shares in the company.
Last year, Frisco opened a modern, fully automated warehouse in Klaudyn, near Warsaw, to improve its scale of operations and the quality of its services to clients.
MCI is one of the largest investment funds in central and eastern Europe, engaging in digital private equity for technology companies.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.