Allegro.pl to take over Agito.pl

2011-12-21



Allegro Group, a leader in e-commerce, has signed a presale agreement to buy 90% of the shares of Agito.pl, an online store specialising mainly in electronic appliances. The value of the transaction, which now awaits for approval from the Polish Office of Competition and Consumer Protection (UOKiK), may reach PLN 80m (€17.7m), as Puls Biznesu estimates.
In 2008, Agito.pl had a revenues of PLN 180m (€51.3m) and led the Polish e-commerce market. Its share in the market, as well as revenues, started to shrink after that. In 2009, the company recorded revenues of PLN 99.7m (€21.9m) and a net profit of PLN 100,000 (€22,000).
The following year brought a further decline of revenues to PLN 66m (€15.8m) and a net loss of PLN 1.9m (€456,000). However, in 211, Agito.pl expects a slight rebound from the multi-year decline anticipating an increase of 21% on a yearly basis, resulting in PLN 80m (€19.4m). Although the net result is to remain unchanged, with a PLN 2m (€485,000) loss expected.
In September 2011, Dutch investment fund Garma took over control of Agito.pl, paying PLN 40m (€9.7m) for the company, and invested in the company another PLN 50m (€12.1m) in its development. Due to that Agito.pl expanded its product offer, customer service and started marketing campaign.
Allegro Group plans to expand Agito’s sales in such segment of products as perfumes and toys, strengthen Agito’s market position and gain an advantage over such competitors as Amazon and Tesco. Currently, Allegro Group operates in Poland in the retail sales running a shopping club Markafoni.pl.