PE in CEE - Dino
Country: Poland
Poland's proximity supermarket champion
COUNTRY | Poland | RETURN | 7.6x |
GP | Enterprise Investors | GROWTH | 7x more stores |
INVESTMENT | EUR 49.4 million | EMPLOYMENT | 10,000+ new jobs |
SECTOR | Food retail | INVESTMENT TYPE | Buyout and growth |
INVESTMENT | July 2010 | FUND OWNERSHIP | 49% |
EXIT | April 2017 | EXIT ROUTE | Public markets |
Investment rationale
In 2009 Enterprise Investors (EI), already a successful investor in the grocery retail sector, spotted high potential in the proximity supermarket concept, as it foresaw market consolidation and a shift towards more frequent smaller-ticket shopping. Searching for a platform, it found Dino, which already had a successful format and was a dynamically growing Polish regional player operating 93 stores, but needed support to jump to the next level. EI saw the chain as a base for rolling out a proximity supermarket chain targeted at smaller towns and big city suburbs, and knew the company could benefit from its expertise.
Deal history and structure
EI acquired 49% of Dino’s shares in a fully proprietary equity transaction structured as a partial buyout of the founder's stake and a capital increase. The total investment value was EUR 49.4 million.
