The owners of Epicenter will receive control over Intersport Polska through their subsidiaries Epicenter K LLC and Paravita Holding Limited.
It is reported that the sports retailer Intersport Polska entered into an investment agreement with Epicenter and its business partner Paravita Holding from Cyprus on joint investment in the chain in April 2023. The agreement provides for investments of €10 million, which will be used to open new stores and modernize existing outlets.
Earlier, the retailer’s CEO, Piotr Mikhailyshyn, stated that Epicenter was in the process of finalizing a deal to acquire a stake from Intersport Polska.
The Intersport chain includes 35 stores in Poland, which are located mainly in shopping centers. From April 2022 to March 2023, the company received an annual net loss of 12.8 million zlotys, and net income amounted to 239.46 million zlotys. The network's difficulties are related to the pandemic, supply shortages and interruptions in cooperation with key suppliers of goods.