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Poland Food and Drink Report Q3 2008
Business Monitor International, July 2008, Pages: 68
This report provides independent forecasts and competitive intelligence on Poland's food and drink industry.
Poland represents a moderately attractive destination for investment, as illustrated by its position in the sixth place in our Q308 Business Environment Ranking table surveying 14 markets in Central and Eastern Europe (CEE). Poland benefits from strong consumption rates and a large population, as well as a vast agricultural sector and an attractive business environment. On the downside, consumption levels per capita continue to lag behind Western European standards, primarily due to considerably lower GDP per capita. Nevertheless, the market continues to exhibit considerable dynamism, as illustrated by a number of deals in the past few months. On the other hand, however, some companies are deciding to leave the country.
One of the most notable among all industry developments is the April 2008 merger between Czech Kofola Holding and Hoop of Poland, which created a regional drinks major under the name Kofola- Hoop Group. The new entity, now present in five CEE markets, will be looking to strengthen its position further through acquisitions, despite its decision to exit Hungary, following a drop in sales and recorded 2007 losses.
In the food sector, US ingredients producer Cargill, and Solae – an alliance between DuPont and Bunge – both confirmed their intention to increase their presence in the country. The former completed the US$35mn expansion of the Polish wheat processing factory, in response to rising consumer demand across Europe. The latter plans to launch new soy-based products in the country, aiming to take advantage of the increased interest in healthy foods. At present, Solae’s products are mostly used in Poland for their gelling and emulsifying properties in meat production, but as this market reaches maturity, Solae is looking for new avenues of growth.
In terms of the Polish mass grocery retail (MGR) scene, the intensification of competition has already resulted in consolidation, especially following recent acquisition of the Ahold Polska store network by French retailer Carrefour. This followed the deal between Germany’s Tengelmann and Portuguese discount retailer Jerónimo Martins, which was already the leading discount operator in Poland.
Moreover, in April 2008, UK retail company Tesco announced a new wave of expansions for the Polish and Slovakian markets, as it invests further in strengthening its position in these countries, while German discounter Aldi finally opened its first stores in Poland. Given such developments, other companies are rumoured to be looking to exit the market, with Schwarz Group-run retailer Lidl reportedly seeking a buyer for its 260-strong discount store network in May 2008.
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