Polish gardening equipment distributor and retailer Hortico is mulling takeovers of distributors and production companies, the CEO of the firm told EMIS.
"We are constantly analysing and considering further acquisition targets and successful deals might take place, although this is not very likely to happen in 2015," Paweł Kolasa said.
He pointed out that Hortico's strategic goals are expanding the gardening equipment retail chain Galeria Ogrodnicza Zielone Centrum as well as expanding the company's distribution chain across Poland.
"As far as distributors are concerned we are interested in the Górnośląskie, Mazowieckie and Podkarpackie [regions]," Kolasa said. "We are also interested in entities, which have an attractive brand portfolio," the executive added.
The NewConnect-listed firm is planning to move to the main floor of the Warsaw bourse by the end of 2015. "We have it planned for this year, once we meet the capitalisation criteria. Considering our 2015 expectations and the Q1 results, we hope to reach the required capitalisation level this year," Kolasa said.
Hortico does not rule out a share issue to accompany the uplisting. "We don’t want to carry out a share issue at any cost. We'll make it if we get a fair price for the shares," Kolasa said.
Hortico is a distributor of gardening and DIY equipment. It also carries out retail sales through its Galeria Ogrodnicza Zielone Centrum chain. The company reported a revenue of PLN 80mn and a net profit of PLN 3.9mn in 2014. In Q1/2015, the firm reported a revenue of PLN 22.47mn and a net profit of PLN 2.7mn.