The SPAR Group has finalised the sale of its Polish operations, ending its presence in the European country and signalling a massive shift in the retailer’s focus to local operations.<\/p>\n\n\n\n
The transaction, which was initially disclosed on 4 September 2024, is now unconditional and was implemented today, 31 January 2025.<\/p>\n\n\n\n
The decision to sell the business follows a comprehensive review of SPAR’s operational challenges in the Polish market and its investments in the region.<\/p>\n\n\n\n
SPAR said that it has initiated a strategic shift to streamline its portfolio, concentrating efforts on markets with well-established foundations and the potential for higher returns.<\/p>\n\n\n\n
SPAR sold the business to Specjal, which is a well-established Polish company that it believes will push the brand forward.<\/p>\n\n\n\n
The disposal is subject to a total estimated net recapitalisation payment by the SPAR Group to SPAR Poland, which amounts to PLN590.7 million (R2.67 billion).<\/p>\n\n\n\n
In September 2024, SPAR said that its Polish business amounted to R185 million, making the exit an extremely costly affair for the group.<\/p>\n\n\n\n
\u201cThe finalisation of this important deal marks a significant shift for SPAR and reflects our commitment to optimising our portfolio and growth in core markets,\u201d said Angelo Swartz, CEO of The SPAR Group. <\/p>\n\n\n\n
\u201cThis, along with our continued financial discipline, strategic resource allocation and investments into innovation, strengthens our business and sharpens our focus on areas where we can have the greatest impact.\u201d<\/p>\n\n\n\n
\u201cWhile this decision marks the end of our presence in Poland, we are confident it will drive our long-term success and enable us to deliver sustained value to our shareholders, as we fulfil our vision of becoming the retailer of choice.” <\/p>\n\n\n\n
“We wish the Specjal team success as they embark on this exciting new chapter and warmly welcome them to the SPAR family.\u201d<\/p>\n\n\n\n