Enterprise Investors buys out Nomi from Kingfisher

Nomi SA is the largest and oldest DIY retailer in Poland, with 39 locations across the country. Nomi’s sales for 2003 are projected to exceed half a billion zlotys ($125 million).

Kingfisher plc is the largest DIY chain outside the USA, with more than 600 stores across Europe and Asia, and with an annual turnover of more than $16 billion. Kingfisher’s decision to divest Nomi follows a strategic review of the company’s international operations after its acquisition of a competing chain, Castorama, late last year.

Nomi’s president, Mariusz Gliwiński, said: “Attracting Enterprise Investors as the new investor for Nomi marks a milestone in the company’s development. This experienced financial partner has presented the best strategic offer for Nomi. With its portfolio of prosperous enterprises, including several retail chains, EI is a good successor to Kingfisher.”

Stanisław Knaflewski, a partner at Enterprise Investors, said: “Our strategic goals for the company are to build on Nomi’s unique focus on bringing quality products to consumers in Poland’s smaller cities, while improving the chain’s efficiency. Our extensive experience in the retail sector makes us similar to an industry buyer in this case.”

Enterprise Investors is the oldest and largest independent private equity manager in the region. The firm manages funds from major private European and US investors representing a total of $722 million. Private equity funds managed by EI have invested over $650 million in 91 companies across all economic sectors in Poland and Central and Eastern Europe. EI developed several successful retail chains in Poland, including Eldorado (food retailer) and Apteki Polskie (chain of pharmacies), financed the expansion of W.Kruk and Deni Cler (jewelry and fashion), and is an investor in LPP (fashion retailer).