Travers Smith LLP has advised the senior management team of Żabka Polska SA, the leading convenience retailer in Poland, on its sale by Mid Europa Partners to funds advised by CVC Capital Partners.
The transaction signed on 21 February and is subject to customary competition authority clearance. It is expected to close in Q2 2017. The transaction value is confidential but the sale is widely reported as being the largest ever transaction in the Polish food retail sector and the largest ever private equity exit in Poland.
Founded in 1998, Żabka has grown from a single convenience store in Poznań to a country wide network of c.4,500 stores, all operated by c.3,000 franchisees.
Other legal advisers on the transaction included White & Case LLP (London) and CMS Cameron McKenna (Poland), who acted for Mid Europa Partners, and Greenberg Traurig (London), who advised CVC Capital Partners.