Czech soft drinks maker Kofola to seek acquisitions in Poland or quit the market

Czech soft drinks maker Kofola to seek acquisitions in Poland or quit the market
Czech soft drinks company says Poland was the only market where it did not manage to grow revenue in Q1. / Grzedxxx
By bne IntelliNews May 16, 2018

Czech soft drinks company Kofola Ceskoslovensko will look for acquisitions in Poland or consider withdrawing from the Polish market in the coming months, the company said on May 15.

The company said in its first-quarter results presentation that Poland was the only market where Kofola did not manage to grow revenue. Results were positive in Kofola’s other markets, Czechia, Slovakia, Slovenia, and Croatia.

Kofola’s sales in Poland fell nearly 9% y/y in the first quarter to CZK254mn (€9.9mn), the company said. 

“[Kofola needs] to fill in the portfolio, [our] own brands are not sufficient, we actively search for new acquisitions,” the company said. "Strong brand acquisition is a must."

However, the company also said it may sell its Polish unit Hoop as a contingency plan. That would push Kofola’s sales 17%, but have “no real effect” on Ebitda performance, the soft drinks maker said.

The group is 68% controlled by the Greek-Czech Samaras family, who resurrected the communist-era cola brand Kofola in the 1990s. In the coming months, Kofola is also likely to lift its free float, with the second-biggest shareholder — CED Group, a subsidiary of private equity group Enterprise Investors — aiming for a private placement, Reuters reported.

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