TelForceOne considering retail chain acquisition
2007-05-17
TelForceOne, a listed producer and distributor of mobile handset accessories, intends to acquire a domestic retail chain by the end of the first half of the year.
As a result, the company would gain a network of 100 points of sale. It would take at least one year to build a chain of that size from scratch. The company has not disclosed the amount to be spent on the acquisition. TelForceOne still has around PLN 19m (€5m) from the recent IPO and may apply for a bank loan.
The company’s other plans include setting up a Ukrainian subsidiary, which is due in a month, and another in Romania. It is also considering an acquisition in Estonia.
It had planned to spend PLN 35m (€9.3m), of the PLN 58.5m (€15.5m) raised via the stock market debut, on acquisitions. So far it has paid PLN 16m (€4.2m) for the Czech CPA. The acquisitions are likely to prompt the company to upgrade its 2007 forecast.