Flügger group A/S has signed an agreement to purchase 60% of the shares in Unicell Poland Sp. z o.o., a paint manufacturer based in Wasilków, Poland. The majority of Unicell’s products are sold to dealers, builders’ merchants and other retailers. The company has approx. 200 employees and generates revenues of approx. DKK 145 million a year. Flügger has had activities in Poland since 2004, and today the group has production facilities and offices in Gdansk and a network of 57 of its own shops. Until now, the Flügger group has only been selling its own products on the Polish market via its own shops. In acquiring Unicell, the group has thus expanded its presence in Poland to include sales to independent dealers and builders’ merchants (DIY). 

Unicell exports to 32 countries, but most of its sales are to the Polish market, where approx. 85% of revenue is generated. In 2018, Unicell posted revenue of DKK 145 million, EBIT of DKK 17 million and EBITDA of DKK 20 million. Unicell has approx. 200 employees. 

The acquisition of Unicell is part of Flügger’s Securing the Legacy strategy of growing through acquisitions while focusing on emerging markets, including Poland. The acquisition gives Flügger access to and insights into Unicell’s competencies within the DIY sector – an area which Flügger is keen to develop further and where it wants to increase profitability. Likewise, Flügger’s existing network, volume and brand will strengthen Unicell’s possibilities for creating further growth within its own as well as new products and services.

Trigon Investment Banking (IMAP Poland) served as sole financial advisor to Flügger.