Polish fuel giant takes over press distributor, plans courier services
The Polish fuel giant PKN Orlen is taking over a 65-percent share in the Ruch press distribution, retail and courier company, PKN Orlen reported in a press release, adding that it wants to develop courier services and new food and retail outlets.
"PKN Orlen is opening a new stage in the history of Ruch by taking over only new shares issued by the company. Thanks to this takeover, PKN Orlen can take advantage of some synergies, which will strengthen the company and elevate its retail sector to a higher level," PKN Orlen wrote.
PKN Orlen CEO Daniel Obajtek was quoted as saying that "basing on the Ruch company, PKN Orlen wants to develop courier services and new food and retail store formats. The effective use of Ruch and PKN Orlen assets will significantly enrich our offer."
The remaining shares in the Ruch company will be owned by PZU and PZU Zycie insurers and Alior Bank.
According to the press release, PKN Orlen plans to develop the retail sector outside its petrol stations, as well as comprehensive services for customers.
"The retail sector in Poland has huge potential. This has been manifested by the results achieved by PKN Orlen in the third quarter of the year when this sector's generated a record EBITDA profit of PLN 1 billion (EUR 222 million). At the same time, retail business development plans are convergent with the trends visible in Central Europe," PKN Orlen wrote.