Interchem S.A., the leading Polish wholesaler of household products and personal care goods, controlled by Resource Partners, is pleased to announce the acquisition of Polbita Sp. z o.o., the owner and operator of Drogerie Natura, the Polish personal care retail chain.

Following completion of the acquisition, Interchem’s national network of personal care stores will increase three-fold to 375, establishing it as the leading personal care retailer in Poland.

Interchem was established in 1996 and for over a decade has been developing a national network of Aster drugstores. Resource Partners invested in Interchem in January 2011.

Polbita Sp. z o.o is owned by IWP International plc, a portfolio company of clients managed by Strategic Value Partners, LLC (“Strategic Value Partners”).

Commenting on the results, Piotr Noceń, Managing Partner at Resource Partners, said:

“Since acquiring Interchem earlier this year, we have seen great opportunities for growth for the Company. Interchem continues to win market share and strengthen its market position. The combination of Drogerie Natura with Drogerie Aster will create the leading Polish player in personal care and, with the sector consolidating, we remain highly optimistic about Interchem’s future.”

Paweł Chodakowski - Malkiewicz, CEO of Interchem, said:

“We are delighted with today’s acquisition. We intend to improve management efficiency with full utilization of synergy effects in our retail division. We plan to create strong management centre with the objective to create the best possible trade offer directed to our individual clients.”

Victor Khosla, Founder of Strategic Value Partners, said:

“The sale of Polbita concludes a very successful turnaround and re-positioning of the business over the last few years. We would like to thank the management and staff for their hard work and we wish the business every success with its new owners.”

Wojciech Filipczyk, CEO of Polbita, said: “This transaction is the final phase in the transformation of the business, creating a strong platform for future organic growth and a company well placed to pursue an exciting growth strategy in the Polish market, with the support of our new owners.”

The transaction is subject to clearance from the Polish Office of Competition and Consumer Protection.

The debt financing will be provided by Alior Bank S.A. and Erste Group Bank AG, Joint Mandated Lead Arrangers.

The purchaser was advised by CMS Cameron McKenna, Deloitte and Environ.

The seller was advised by Allen & Overy and DC Advisory Partners.

Contacts:

Resource Partners Press Release