Penta Investments and Ipopema FIZ have agreed to merge their companies, Iglokrak and Iglotex, to form the largest distributor of frozen food and one of the foremost players in the foodservice supply market in Poland.

Information on the Target

Penta Investments, the sole owner of Iglokrak, has entered into a merger agreement with Ipopema FIZ, the owner of Iglotex. This merger will establish a combined entity that will become the largest distributor and one of the major frozen food manufacturers in Poland. With the merger, Iglotex and Iglokrak aim to consolidate their strengths in the frozen food and foodservice delivery markets of Poland, which is currently characterized by a multitude of small operators.

Iglotex holds the position of the largest regional distributor of frozen food and ice cream in Poland and is a key player in the foodservice distribution sector, particularly in Northern Poland. The company serves approximately 19,000 retail and HoReCa (Hotel, Restaurant, and Catering) points of sale, controlling around 30,000 freezers. In the fiscal year 2009, Iglotex reported revenues of approximately PLN 400 million.

On the other hand, Iglokrak is also a leading distributor and producer of frozen products, maintaining a strong distribution presence in Southern Polan