According to a report from the Polish company on the Warsaw Stock Exchange (WSE) on October 4, this occurred following the participation of the mentioned companies in a private subscription for Intersport Polska's series J shares. Epicenter K's share of the total voting shares exceeded 10%.
The paid-up share capital of the Polish company amounts to PLN 8.27449 million.
During the subscription, 12.655468 million shares were sold to a single company at PLN 1.0471 per share (approximately $0.27 per share).
As reported, Hereha indirectly obtained 51.3% of Intersport Polska's share capital at the end of last year under an investment agreement concluded by the Polish company with Epicenter K and Paravita Holding. However, at that time, her voting stake fell just short of 50% – at 49.94%.
The investment agreement with Epicenter K and Paravita Holding, which also operates stores under the Intersport brand in Ukraine, was signed on April 19, 2023. The document outlined a total investment of EUR 10 million, intended specifically for the development of the Polish company through opening new stores and modernizing existing ones.
On November 17, Yulia Maksymenko and Aivars Bunde, the managing and commercial directors of Intersport Ukraine, a division of Epicenter K LLC, joined the supervisory board of Intersport Polska.
During a recent forum in Kyiv titled "Dialogues with NV about the Future. Business and War," Hereha mentioned that Intersport Polska was struggling financially and lacked strategic investors. Consequently, Epicenter K, which had demonstrated successful results with the Intersport brand in Ukraine, was invited to collaborate.
"We agreed to step in and help realize this project," she said, adding that this improved the image of the Ukrainian company among international partners.
Speaking about current challenges, Hereha pointed out a staffing shortage. "Even for such a small Intersport in Poland, we are facing the same staffing issues as we do in Ukraine. Even among Ukrainians who temporarily moved to Poland, we can't find efficient personnel to work in this Intersport," she said at the forum.
In the 2023/24 fiscal year (ending March 31, 2024), Intersport Polska's revenue fell by 21% to PLN 189.1 million, and its net loss grew to PLN 39.6 million from PLN 13.1 million the previous year.
According to the company's website, Intersport Polska operates 31 stores and a delivery network with approximately 500 employees, while the global Intersport network encompasses around 5,400 stores.
The Epicenter group of companies is an omnichannel ecosystem that unites the Epicenter and Nova Linia retail chains, the epicentrk.ua online store, the Epicenter-Agro agroholding, the Epicenter Ceramic Corporation ceramic tile factories, the Osmoloda woodworking enterprise, and logistics facilities.
Before the full-scale Russian invasion of Ukraine, the Epicenter chain united more than 80 shopping centers in all regions of the country. The war destroyed seven shopping centers in Mariupol, Nikopol, Bucha, Chernihiv, Kharkiv, and Kherson (two). Three more facilities (in Melitopol, Kramatorsk, and Kharkiv) are out of operation due to the occupation of Ukrainian territories, shelling, or proximity to combat zones.
The retail network of the group of companies includes 71 retail facilities under the Epicenter and Nova Linia brands.
According to the Unified State Register of Legal Entities and Individual Entrepreneurs, the participants of Epicenter K LLC are Oleksandr Hereha (51.3%), Halyna Hereha (47.97%) and Tetiana Surzhik (0.73%).
