Schlecker Group has sold its Czech subsidiary to p.k.Solvent
Schlecker sells its Czech subsidiary Schlecker a.s. to the Czech trading company p.k. Solvent s.r.o. (PKS) in a share deal. The approval of the transaction by the Czech cartel authority is expected shortly.
Schlecker a.s. operates more than 140 drugstores in the Czech Republic, thereof eight stores with integrated pharmacies. The shops are located in urban centers such as Prague and Brno, but also in smaller towns mainly in the northern and eastern parts of the country. The company employs approximately 460 employees and generated revenues of about 70 million euros in 2011.
Founded in 1992, PKS achieved a turnover of around 130 million euros last year and operates one of the largest drugstore networks in the Czech market with more than 700 stores under the TETA brand.
PKS will strengthen its market position with the Schlecker stores especially in larger cities and shopping centers. The company plans to operate on the market with more than one sales format and the Schlecker chain of outlets fits very well into that strategy.
Lincoln International was mandated by Arndt Geiwitz, Schlecker’s insolvency administrator, as M&A advisor for the sale of the Czech subsidiary.
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