Brief: Sfinks Polska to acquire 'Piwiarnia Warki' chain from Grupa Zywiec

Sfinks Polska SA

23/06/2017 09:04

June 23 (Reuters) - SFINKS POLSKA SA  SFSP.WA : 
    * SAID ON THURSDAY THAT IT HAS DECIDED TO ACCEPT THE OFFER FROM GRUPA ZYWIEC 
 ZWC.WA  AND WILL ACQUIRE FRANCHISE CHAIN OF PUBS 'PIWIARNIA WARKI' FOR 12.0 
MILLION ZLOTYS NET 
    * PRICE TO BE PAID IN SIX YEARS 
    * THE PARTIES WILL ALSO SIGN A COOPERATION AGREEMENT FOR 20 YEARS, UNDER 
WHICH GRUPA ZYWIEC WILL HAVE EXCLUSIVE RIGHTS FOR SALES OF BEER AND CIDER IN THE 
FRANCHISE CHAIN 
    * UNDER THE AGREEMENT SFINKS WILL NEED TO KEEP CERTAIN NUMBER OF PUBS IN 
2017-2018 AND DEVELOP THE CHAIN AS OF 2019, AS WELL AS TO KEEP CERTAIN MINIMUM 
SALES LEVEL OF BEER AND CIDER 
    * PROCEEDS FROM THIS CONTRACT FOR THE COMPANY ARE ESTIMATED AT 45.0 MILLION 
ZLOTYS NET 
 
     
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM2211868 
     
 Further company coverage:  SFSP.WA   
    
 
 
 
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