All Announcements
2026
2026-09-25
EMMA Capital Group’s new bonds sold out within a few days
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EMMA Capital Group today issued a further tranche of its bonds, with five financial institutions having participated in their placement for the first time: J&T Banka, PPF Banka, UniCredit Bank, Česká spořitelna and Komerční banka. The securities, which follow earlier successful issues under the EMMA Capital bond programme, were fully subscribed even before today’s issue date.
The secured bonds issued by EMMA Finance CZ and EMMA Finance SK are denominated in Czech koruna, with an interest rate of 7%, and in euros, with a rate of 6%. They have a maturity of five years.
In response to the high demand, the volume of koruna-denominated bonds was increased from 2.5 billion to 3.3 billion, and that of euro-denominated bonds from 20 to 40 million.
“We are, of course, delighted by the demand for this new tranche of our bonds. It is evident that investors’ positive experience with our previous issues has been reflected in this response,” said Pavel Horák, Investment Director and Partner at EMMA Capital. He added: “The funds we raised through this subscription will be used to finance further acquisitions by EMMA Capital Group, which we intend to carry out in the foreseeable future.”
EMMA Capital is a private investment holding founded in 2012 by Jiří Šmejc. In recent years, it has focused primarily on markets in the European Union, but is also present in other markets in Europe. It plays an active role in companies where it acquires an equity stake, participating in their management, development and in any potential restructuring. EMMA’s investment priority is retail and customer-oriented companies, and it is also successfully entering the B2B segment.
Contact:
Pavel Zuna
+420 602 475 698
2026-06-25
EMMA Capital Increases Its Stake in Entain CEE
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EMMA Capital Group announces that it has successfully concluded negotiations with Entain plc. regarding the acquisition of a 20% stake in their joint gaming venture, Entain CEE. This brings EMMA Capital’s total stake to 42.5%. As a result of an agreement on the exercise of voting rights with the Juroszek family, which holds 10% of the shares, EMMA Capital will also become the controlling shareholder of Entain CEE.
Entain plc. had announced its intention to gradually divest its stake in Entain CEE, stating that it would approach its joint-venture partner – i.e. EMMA Capital Group – with an offer. EMMA Capital accepted this offer, and the two parties have since agreed on the sale of a 20% stake.
“Ever since the days when we managed the Croatian company SuperSport – which remains a key asset in Entain CEE’s portfolio to this day – we have had great confidence in the entire project and our experience with it has been excellent. It is therefore logical that we were pleased to take advantage of the opportunity to increase our stake and become the largest shareholder in terms of voting rights,” says Pavel Horák, Investment Director at EMMA Capital, regarding the transaction.
In addition to SuperSport, Entain CEE’s portfolio includes the Polish betting company STS, which was acquired in 2023 from the Polish Juroszek family. The family currently holds a 10% stake in Entain CEE. It is precisely the exercise of the voting rights associated with this stake that makes EMMA Capital the company’s controlling shareholder. The new ownership structure (Entain plc. 47.5%, EMMA 42.5%, the Juroszek family 10%) results in voting rights of 52.5% for EMMA and 47.5% for Entain plc.
For the 20% stake that is the subject of this acquisition, EMMA Capital will pay Entain plc. EUR 395 million, as well as a potential supplement based on the company’s final performance in 2026.
The entire transaction is still subject to approval by the relevant regulatory authorities and is expected to be completed this fall. The company will then change its name.
The gaming company Entain CEE was established in 2022 after EMMA Capital sold its 75% stake in the Croatian gaming company SuperSport to the global industry leader, Entain plc. Both partners then contributed their stakes to a joint venture named Entain CEE. EMMA Capital thus held a 25% stake in this joint venture.
In 2023, Entain CEE made another major acquisition: it purchased STS, Poland’s largest gaming company. STS’s previous majority shareholder, the Juroszek family, subsequently joined Entain CEE by subscribing to a 10% stake. EMMA Capital’s stake in Entain CEE was thereby diluted to its current level of 22.5%.
EMMA Capital is a private investment holding founded in 2012 by Jiří Šmejc. In recent years, it has focused primarily on markets in the European Union, but is also present in other markets in Europe. It usually plays an active role in companies where it acquires an equity stake, participating in their management, development and in any potential restructuring. EMMA’s investment priority is retail and customer-oriented companies, and it is also successfully entering the B2B segment.
Contact:
Pavel Zuna
EMMA Capital
Email: [email protected]
2026-02-09
New EMMA Capital Group bonds met with great interest
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EMMA Capital Group’s new bonds, which began trading on 2 February, are now completely sold out, despite their original volume of CZK 1.25 billion being increased to the maximum limit of CZK 2 billion. The Group thereby successfully continued its previous bond program issues.
The secured bonds, issued by EMMA Finance CZ, have an interest rate of 6.35%, are denominated in Czech crowns, have a five-year maturity, and were subscribed through J&T Banka, PPF Banka, and UniCredit Bank. The issue date is 27 February of this year.
“We are, of course, glad that there is such interest in our securities,” said Pavel Horák, investment director and partner at EMMA Capital. “We consider this an affirmation of the fact that, over the 13 years of its existence, our Group has earned a firm place among the respected investment companies in our country.”
The funds raised by EMMA Capital through the subscription of its bonds will be used to finance the Group's further growth.
EMMA Capital is a private investment holding founded in 2012 by Jiří Šmejc. In recent years, it has focused primarily on markets in the European Union, but is also present in other markets in Europe. It usually plays an active role in companies where it acquires an equity stake, participating in their management, development and in any potential restructuring. EMMA’s investment priority is retail and customer-oriented companies, and it is also successfully entering the B2B segment.
Contact:
Pavel Zuna
EMMA Capital
Email: [email protected]
2026-01-15
Box Now: Record results at the end of the year
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The Box Now Group, which provides courier services for parcels ordered from online stores via APMs (Automated Parcel Machines), achieved record volumes and revenues at the end of 2025. This past December, it delivered 5.4 million packages to its customers, which is more than double the number delivered in the previous year – representing a 130% increase.
The total number of shipments delivered to customers in 2025 rose to 44 million. This is also the highest number in the group’s history by far.
EMMA Capital partner Tomáš Kočka commented: “Over the past year, Box Now has grown its market share significantly in all countries where the group operates. At the same time, even before the final closing of the 2025 accounts, we can already state that the group achieved an operating profit in the millions of euros this year.”
Box Now also announced a dramatic increase in the number of its Automated Parcel Machines. By the end of 2025, it was operating 4,100 APMs, representing a year-on-year increase of 50%. This brings its daily capacity to up to 360,000 parcels per day.
In Croatia, the group has also successfully opened a next-generation warehouse with an automated sorting line.
“This is a modern, fully automated operation that enables the processing of up to 14,000 parcels per hour. In other words, it is capable of dispatching 3-4 shipments every second,” adds Tomáš Kočka.
Box Now was founded in 2021 by EMMA Capital, which currently holds an 87.5% stake in the company. The remaining minority stake belongs to the Greek investment fund PCP (Public Capital Partners).
EMMA Capital is a private investment holding founded in 2012 by Jiří Šmejc. In recent years, it has focused chiefly on markets in the European Union, but is also present in other markets in Europe. It usually plays an active role in companies where it acquires an equity stake, participating in their management, development and in any eventual restructuring. EMMA’s investment priority is retail and customer-oriented companies, while it is also successfully penetrating the B2B segment.
Contact:
Pavel Zuna
EMMA Capital
Email: [email protected]
2025-10-21
RIXO.cz swings into profit
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The online financial services comparison site RIXO.cz turned a profit for the first time in the third quarter of this year. This comes five years after the launch of its online insurance comparison service. EMMA Capital partner Tomáš Kočka says this is an excellent result, as start-ups of this type usually take much longer to turn a profit.
In addition to its first profitable quarter, RIXO also reports a positive outlook for 2026.
“We have reached a point where we should remain in the black henceforth. In this type of business, the so-called ‘snowball effect’ applies – that is, you retain the basic insurance portfolio you have already acquired, and new clients are added to it. With minimal cost increases, earnings may grow by tens of percent each year,” comments Tomáš Kočka.
He further explains that from EMMA Capital’s perspective as RIXO.cz’s main owner, it is crucial that, despite the high initial costs of building the entire service, the company is already worth more than the amount invested in it. As it develops further, this value will continue to grow.
RIXO.cz started as a free online insurance service and has served over a million users since its launch. Alongside insurance, the company currently compares mortgage and energy prices. It also entered the Slovak market this year, where it has doubled the number of clients served in the last month.
EMMA Capital is a private investment holding founded in 2012 by Jiří Šmejc. In recent years, it has focused chiefly on markets in the European Union, but is also present in other markets in Europe. It usually plays an active role in companies where it acquires an equity stake, participating in their management, development and in any eventual restructuring. EMMA’s investment priority is retail and customer-oriented companies, while it is also successfully penetrating the B2B segment.
Contact:
Pavel Zuna
EMMA Capital
Email: [email protected]
2025-09-19
EMMA ZETA acquires majority stake in Montenegrin company Urion
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EMMA Capital Group has entered the medical technology distribution sector in Montenegro through EMMA ZETA. There, EMMA ZETA in recent days successfully completed the acquisition of a 65% stake in Urion. EMMA Capital thus further strengthens its position in the sector, which it entered a year and a half ago with the acquisition of the Serbian company Magna Pharmacia.
Since its establishment in 1999, Urion has specialized in the distribution of medical equipment and devices. The global brands it represents include, among others, Medtronic, Baxter, Olympus, Drager, and Canon.
Urion has 30 employees and generated a revenue of EUR 13 million in 2024. The seller was the company’s founder, Mr. Milan Cukovic; he remains a shareholder with a 35% stake in the company after the transaction.
“The acquisition of Urion is beneficial for both parties. Thanks to it, EMMA Capital further strengthens its position in the segment and region. Urion, in turn, becomes part of the largest network of independent distributors of medical technology in Southeast Europe,” comments Michal Houšt', partner at EMMA Capital.
Overall, this is EMMA Capital’s third acquisition in the medical technology distribution sector. In January 2024, it entered the sector by purchasing a 65% stake in the Serbian company Magna Pharmacia. Subsequently, together with Magna Pharmacia’s previous owner, Ms. Jasna Stanivuk, it established EMMA ZETA, in which both parties invested their shares and through which further acquisitions were made: the Romanian company Diamedix in March 2025, and now Urion in Montenegro. EMMA ZETA is currently present on the market in six countries: Serbia, Romania, Moldova, Bulgaria, Ukraine, and Montenegro.
EMMA Capital is a private investment holding founded in 2012 by Jiří Šmejc. In recent years, it has focused chiefly on markets in the European Union, but is also present in other markets in Europe and Asia. It usually plays an active role in companies where it acquires an equity stake, participating in their management, development and in any eventual restructuring. EMMA’s investment priority is retail and customer-oriented companies, while it is also successfully penetrating the B2B segment.
Contact:
Pavel Zuna
EMMA Capital
Email: [email protected]
2025-04-03
Box Now Group is dynamically developing its business in four countries across Southeastern Europe
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Box Now Group, which delivers parcels ordered from online shops to its lockers (Automated Parcel Machines – APMs), significantly expanded its business in all the countries where it operates in 2024. The total number of parcels delivered surpassed 19 million, and by the end of the year, the Group was delivering over 3 million parcels each month. This represents a full 600% year-on-year increase.
The Group currently operates more than 3,500 lockers with a daily capacity of up to a quarter of a million packages, located across Greece, Croatia, Bulgaria and Cyprus – and their number is steadily increasing. It turned profitable in December 2024, even as it continues to invest massively in its network, and is set to grow further throughout 2025. The first months of this year confirm this trend.
In Greece, the Group now commands the majority of the market for parcels picked up by customers from lockers, while in Croatia and Cyprus it has exceeded a market share of 20% in the delivery of all parcels ordered online. Additionally, in Croatia, Box Now plans to launch its first automated sorting line in the third quarter and aspires to become the market leader there within two years.
“I am especially pleased that we were able to optimise our processes in Croatia - and indeed in other countries as well - as much as possible. As a result, we are able to offer our customers a more favourable price and better overall conditions than our competitors in the vast majority of cases,” says EMMA Capital’s partner responsible for the segment, Tomáš Kočka.
EMMA Capital founded Box Now in 2021 and currently holds an 87.5% stake in the group. The remaining minority stake is held by the Greek company PCP (Public Capital Partners).
EMMA Capital is a private investment holding founded in 2012 by Jiří Šmejc. In recent years, it has focused chiefly on markets in the European Union, but is also present in other markets in Europe and Asia. It usually plays an active role in companies where it acquires an equity stake, participating in their management, development and in any eventual restructuring. EMMA’s investment priority is retail and customer-oriented companies, while it is also successfully penetrating the B2B segment.
Contact:
Pavel Zuna
EMMA Capital
Email: [email protected]
2025-03-05
EMMA Capital Group completes acquisition of Romanian company Diamedix
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EMMA Capital Group, through its company EMMA ZETA, has become the majority owner of Diamedix, one of Romania’s largest independent medical equipment distributors. The acquisition further strengthens EMMA Capital’s position in the sector, which it entered in January 2024 by acquiring the Serbian company Magna Pharmacia, one of the largest distributors of medical equipment and technology in Southeastern Europe.
Diamedix specialises in the provision of instruments to laboratories and the subsequent supply of laboratory tests. This segment accounts for about 90% of its revenue, which reached EUR 67 million in 2024.
Like Magna Pharmacia, Diamedix represents leading global medical device manufacturers such as Siemens Healthineers, Horiba and Copan, among others. It also has offices in Moldova, Bulgaria and Ukraine, thereby extending EMMA ZETA’s reach to five countries in the Southern and Southeastern European region. The total sales of all the companies currently under EMMA ZETA reached EUR 220 million in 2024.
“The acquisition of Diamedix signifies a great development impulse for us. Thanks to it, we will become one of the most important players on the market in the whole region, and in the future, this segment may gradually become another main pillar of EMMA Capital Group’s entire business,” says Michal Houšt', partner at EMMA Capital.
EMMA Capital Group holds a 65% stake in EMMA ZETA, which bought 100% of Diamedix. The remaining 35% is owned by the founder of Magna Pharmacia, Ms. Jasna Stanivuk.
The sellers were the Spanish private equity group Buenavista Equity Partners, operating until recently under the name GED (80%), and the founder of Diamedix, Mr. Vasileios Chrelias (20%). Both parties have agreed that Mr. Chrelias will continue to lead the company during the transition period, which is expected to last until the end of this year.
EMMA Capital is a private investment holding founded in 2012 by Jiří Šmejc. In recent years, it has focused chiefly on markets in the European Union, but is also present in other markets in Europe and Asia. It usually plays an active role in companies where it acquires an equity stake, participating in their management, development and in any eventual restructuring. EMMA’s investment priority is retail and customer-oriented companies, while it is also successfully penetrating the B2B segment.
Contact:
Pavel Zuna
EMMA Capital
Email: [email protected]
2025-02-18
EMMA Capital assumes full ownership of Mailstep
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EMMA Capital Group has signed an agreement with private equity fund CVC for its full takeover of Mailstep, one of the largest Czech fulfilment companies. Until now, Mailstep was part of Packeta Group, in which CVC and EMMA hold 65% and 35% stakes respectively.
EMMA Capital Group is confident of Mailstep’s excellent business prospects in the medium and long term, and believes that it can successfully adapt the company to meet the dynamically changing needs of the market.
The transaction is subject to the approval of the Czech competition authority.
EMMA Capital is a private investment holding founded in 2012 by Jiří Šmejc. In recent years, it has focused chiefly on markets in the European Union. It usually plays an active role in companies where it acquires an equity stake, participating in their management, development and in any eventual restructuring. In addition to retail and customer-oriented companies, it invests across sectors such as financial technology, consumer finance, gas and electricity distribution, gaming, insurance, pharmaceuticals and healthcare.
Contact:
Pavel Zuna
EMMA Capital
Email: [email protected]
2024-06-12
CVC and EMMA: Packeta acquisition followed by new deals in Hungary and the Czech Republic
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The holding company formed by global private equity fund CVC Capital Partners and EMMA Capital Group has announced further acquisitions. It signed documentation to acquire 100% of the shares in FoxPost, a Hungarian company specializing in the delivery of goods ordered online through its network of self-service parcel lockers. Additionally, the Czech company Mailstep, previously wholly owned by EMMA Capital, has become part of the joint holding following an agreement between the two partners. The shareholdings of both partners in the holding company remain unchanged at 65:35 in favour of CVC.
FoxPost is a major player in the Hungarian parcel locker market, with more than thousand e-commerce partners and more than 10 million packages delivered last year. It has a footprint in all major Hungarian cities and densely populated areas through 1,100 Automated Parcel Machines.
Commenting on the acquisition, Jakub Čanda, Senior Managing Director of CVC, says: “We find the Hungarian market attractive. Currently, there is a receding trend of direct-to-consumer deliveries, while the appeal of parcel lockers is rising. Therefore, we consider our new acquisition highly promising.”
The completion of the transaction is subject to approval by European Union competition authorities.
Mailstep, a market leader in fulfilment in the Czech Republic, also becomes a new asset of the joint holding between CVC and EMMA Capital. Previously owned by EMMA Capital since 2021, Mailstep’s regulatory process has concluded and the shares have been transferred.
CVC is a global equity and investment manager with operations in Europe, Asia and the US with assets under management of €177 billion. CVC is an investor in 125 companies with a total annual turnover of approximately €100 billion and which employ more than 550,000 people. In its 40 years of activity, it has built a network of 29 offices worldwide.
EMMA Capital is a private investment holding founded in 2012 by Jiří Šmejc. In recent years, it has focused chiefly on markets in the European Union, but is also present in other markets in Europe and Asia. It usually plays an active role in companies where it acquires an equity stake, participating in their management, development and in any eventual restructuring. EMMA’s investment priority is retail and customer-oriented companies.
Contact:
Pavel Zuna
EMMA Capital
Email: [email protected]
2024-03-13
J&T ARCH INVESTMENTS announces investment in EMMA Capital Group
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The J&T ARCH INVESTMENTS Qualified Investor Fund has become an indirect shareholder of EMMA APLHA HOLDING, which is EMMA Capital Group’s main investment platform. The stake will amount to 8.1%.
The investment of EUR 100 million (approximately CZK 2.5 billion) builds on the two groups’ long-standing business relationship and a number of successful projects on which they have collaborated. It also represents the fulfilment of a long-standing ambition to extend their cooperation from the field of financing into equity investments.
“We have a number of successful projects with EMMA Capital at the J&T level. This investment is thus wholly in keeping with our philosophy - to invest in partnerships built over many years. In addition, the current portfolio of EMMA ALPHA suitably complements our fund's composition with stakes in privately owned companies, particularly in Eastern and South-Eastern Europe. EMMA Group’s recently closed transactions and historical track record fill us with confidence in the potential for interesting appreciation in the years to come,” says Adam Tomis, member of the Investment Committee of J&T ARCH.
“The entry of an external investor is a step in a completely new direction for us. We view it as a kind of exploration that can show us untapped opportunities for our further growth. At the same time, I believe that J&T ARCH is the ideal partner for such a step for many reasons,” adds Pavel Horák, Investment Director of EMMA Capital.
J&T ARCH INVESTMENTS, a Qualified Investor Fund, is J&T Group’s main investment platform. The fund invests in companies, projects and partnerships that the Group has helped to build over the past 25 years, and also contributes to fulfilling the ambitions of Czech-Slovak capital in Europe and worldwide. The Fund manages not only the assets of J&T Group’s founders but also those of private and institutional investors. J&T ARCH INVESTMENTS is traded on the Prague Stock Exchange, where it is one of the most liquid fund titles.
EMMA Capital is a private investment holding founded in 2012 by Jiří Šmejc. In recent years, it has focused chiefly on markets in the European Union, but is also present in other markets in Europe and Asia. It usually plays an active role in companies where it acquires an equity stake, participating in their management, development and in any eventual restructuring. EMMA’s investment priority is retail and customer-oriented companies.
Contact:
Pavel Zuna
EMMA Capital
Email: [email protected]
2024-01-29
EMMA Capital to form joint venture with PNS
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EMMA Capital Group has successfully concluded negotiations with První novinová společnost a.s. (PNS) on its capital entry into the finishing division of Mailstep. The latter supplies comprehensive services to modern publishing houses and the print industry. PNS will acquire a 50% stake in this division, while the other half will remain in the ownership of the EMMA Capital Group and Jan Rozlivka.
“This step has a fundamental logic from our point of view. We are joining forces with a traditional and established player on the market, which gives us the chance to harness interesting synergies,” said Michal Houšt', partner at EMMA Capital, commenting on the transaction.
“We have long seen many synergies in Mailstep’s activities with our business, which is why we have watched its development with great interest and appreciation for a long time. Through this transaction, PNS will increase the scope of the services we offer and will also gain the opportunity to enter new markets,” said Vít Rozsypal, Chairman of the Board of PNS.
For the purposes of the transaction, the finishing division has been spun off into a separate entity, MailFinish a.s., with this setup taking effect on 1 January, 2024. PNS will acquire a 50% stake in this entity, with EMMA’s share decreasing to 45%. The remaining 5% will belong to the existing minority shareholder of Mailstep, Jan Rozlivka.
Both new partners will share equal management responsibility for the joint venture.
The partners have mutually agreed to keep the price confidential.
The transaction is subject to the approval of the Czech Republic’s Office for the Protection of Competition.
Mailstep is a provider of professional fulfillment services in the field of e-commerce. It is currently active primarily in three markets - the Czech Republic, Italy and Greece. Mailstep focuses on comprehensive logistics services that include warehousing, fulfillment and transport facilitation, primarily for clients with their own e-stores.
PNS is the largest print distributor in the Czech market. It handles the distribution of national and regional daily newspapers, magazines, non-periodicals and supplementary products. PNS also distributes addressed and unaddressed mail. Its unique distribution network comprises more than 5,000 delivery agents and 14,000 sales outlets across the Czech Republic.
EMMA Capital is a private investment holding founded in 2012 by Jiří Šmejc. In recent years, it has focused chiefly on markets in the European Union, but is also present in other markets in Europe and Asia. It usually plays an active role in companies where it acquires an equity stake, participating in their management, development and in any eventual restructuring. EMMA’s investment priority is retail and customer-oriented companies.
Contact:
Pavel Zuna
EMMA Capital
Email: [email protected]
2023-12-22
CVC and EMMA Capital win tender for Packeta
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CVC, a global private equity firm, and EMMA Capital have signed an agreement to acquire 100% of Packeta, s.r.o., the parent of the leading Czech logistics company Zásilkovna.cz. The current owners of the company chose the offer submitted by the CVC-EMMA consortium in a tender running since the spring of this year.
Both shareholders have agreed to split their shareholdings 65:35 in favour of CVC. The two partners will then participate jointly in the company’s future management. A minority equity investment by the Czech group R2G is anticipated within CVC’s stake; this will not affect EMMA Capital’s share, which will remain at 35%.
Jakub Čanda, Senior Managing Director at CVC says: “We are pleased that our bid to acquire Packeta was successful. We deeply appreciate what the existing management has managed to build effectively from zero to what Packeta is today. We are also hopeful that, together with our partners from EMMA Capital, who know the Czech and Slovak market well and who also successfully manage other logistics companies in Europe, we can provide new impetus to Zásilkovna to the benefit of its customers, employees as well as shareholders.”
EMMA Capital’s Investment Director, Pavel Horák, adds: “By combining the investment strength and reputation of CVC with our experience in the industry, the entire Zásilkovna project can step up from its position as the Czech and Slovak number one and become a very significant player on the European market.”
The closing of the transaction is subject to the approval of the European Union’s competition authorities. The seller and the buyer have agreed that the purchase price will remain confidential.
CVC is a global equity and investment manager with operations in Europe, Asia and the US with assets under management of €177 billion. CVC is an investor in 125 companies with a total annual turnover of approximately €100 billion and which employ more than 550,000 people. In its 40 years of activity, it has built a network of 29 offices worldwide.
EMMA Capital is a private investment holding founded in 2012 by Jiří Šmejc. In recent years, it has focused chiefly on markets in the European Union, but is also present in other markets in Europe and Asia. It usually plays an active role in companies where it acquires an equity stake, participating in their management, development and in any eventual restructuring. EMMA’s investment priority is retail and customer-oriented companies.
Contact:
Pavel Zuna
EMMA Capital
Email: [email protected]
2023-06-13
Entain CEE submits bid for Poland’s largest gaming company
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EMMA Capital Group, a 25% shareholder in Entain CEE, announces that Entain CEE is ready to buy 100% of Polish sports betting operator STS – the largest Polish company operating in the industry listed on the Warsaw Stock Exchange. The offer price is PLN 24.80 per share, which represents a price of over EUR 840 million (CZK 20 billion) for 100% of the company. The resulting amount would be paid by both shareholders of Entain CEE (Entain plc and EMMA Capital) proportionally, according to the size of their shares (i.e. in the ratio 75:25).
STS provides its services both on the Internet (which accounts for 82% of the company’s revenues, with almost 800,000 active users) and through its branch network (400 points of sale). In 2022, it achieved EBITDA of PLN 273 million. Approximately 70% of the company’s shares are held by the families of the company’s founder Zbigniew Juroszek and his son Mateusz – who currently serves as Chief Executive Officer – through their foundations.
“The acquisition of a company as renowned as STS undeniably is, precisely fulfils the purpose for which Entain CEE was founded: to combine the financial strength of the parent company Entain plc with EMMA’s experience in the Central and Eastern European markets and become the most important player in the region,” says Pavel Horák, Investment Director at EMMA Capital, commenting on the transaction.
Both father and son Juroszek have committed to sell their entire 70% stake, investing part of the proceeds in Entain CEE and consequently becoming its shareholders with a 10% stake (whereby Entain plc’s stake will adjust to 67.5% and EMMA Capital’s to 22.5%). Mateusz Juroszek adds: “This is a significant milestone for STS. It will become a member of a very important business family, which includes both the world leader in the industry and Czech partners, with whom we have long and very friendly relations.”
Pavel Horák added that EMMA Capital will fund its share of the purchase price, which will most likely amount to approximately EUR 160 million (CZK 4 billion), from its own resources.
EMMA Capital is a private investment holding founded in 2012 by Jiří Šmejc. In recent years, it has focused chiefly on markets in the European Union, but is also present in other markets in Europe and Asia. It usually plays an active role in companies where it acquires an equity stake, participating in their management, development and in any eventual restructuring. EMMA’s investment priority is retail and customer-oriented companies.
Entain plc is a leading global sports-betting, gaming and interactive entertainment group, operating both online and in the retail sector. The Group owns a comprehensive portfolio of globally-renowned brands, including bwin, Coral, Crystalbet, Eurobet, Ladbrokes, Neds Foxy Bingo, Gala, GiocoDigitale, and Partypoker. The Group has a 50/50 joint venture, BetMGM, a leader in sports betting and iGaming in the US. Entain places great importance on ESG, for which has received an AA rating from MSCI. For further information, please visit www.entaingroup.com.
Contact:
Pavel Zuna
Tel.: +420 602 475 698
Email: [email protected]
2022-11-25
EMMA Capital settles transaction with Entain
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EMMA Capital Group has this week settled its transaction with Entain plc. which was concluded in August this year. Entain, one of the world's leading gaming and sports betting companies, acquired 75% of Croatian betting company SuperSport in the deal.
The two companies subsequently contributed their shares to a new joint venture, Entain CEE, through which they seek to achieve further growth in sports betting and gaming in the CEE region. The proportion of ownership of the two partners maintains the ratio established by the transaction around SuperSport, i.e. 75:25.
One element of the transaction price remains unsettled as it is dependent on SuperSport's profit for 2022. This part will be settled after the release of the audited financial statements for this year, expected sometime during the first or second quarter of 2023. The total amount of the transaction is expected to exceed EUR 700 million, according to the latest estimates.
SuperSport was founded in 2000 and has gradually developed into the largest gaming company in Croatia, with a market share of over 54%. The focus of its activity rests in sports betting, but it also operates in other segments such as online casino. EMMA Capital entered SuperSport in 2018 and took full control of it in early 2022.
Entain plc is a leading global sports-betting, gaming and interactive entertainment group, operating both online and in the retail sector. The Group owns a comprehensive portfolio of established brands, including bwin, Coral, Crystalbet, Eurobet, Ladbrokes, Neds Foxy Bingo, Gala, GiocoDigitale, and Partypoker. The Group has a 50/50 joint venture, BetMGM, a leader in sports betting and iGaming in the US. Entain is a leader in ESG, a member of FTSE4Good, the DJSI and is AA rated by MSCI. For further information, please visit www.entaingroup.com.
EMMA Capital is a private investment holding founded in 2012 by Jiří Šmejc. In recent years, it has focused chiefly on markets in the European Union, but is also present in other markets in Europe and Asia. It usually plays an active role in companies where it acquires an equity stake, participating in their management, development and in any eventual restructuring. EMMA’s investment priority is retail and customer-oriented companies.
Contact:
Pavel Zuna
Tel.: +420 602 475 698
Email: [email protected]
2022-11-23
Statement by EMMA Capital regarding the situation at KÜCHENQUELLE
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EMMA Capital Group notes that KÜCHENQUELLE has become the subject of insolvency proceedings. The company, which sells kitchens in Germany, has been faced with economic difficulties related to the macroeconomic situation following the start of the war in Ukraine and the falloff in demand in the segment in which it operates.
EMMA Capital, which holds a 46% stake in KÜCHENQUELLE, maintained the view that the company’s liabilities should be paid and was prepared to contribute to them in an amount corresponding to its shareholding. However, the remaining shareholders did not favour such a course of action.
EMMA Capital Group will actively cooperate with the insolvency administrator throughout the process and discuss a provision of additional financial aid (on top of the financial support of tens of millions of euro it already provided to the company over the last year). These funds should be used primarily to meet obligations to customers - in particular, to complete the installation of unfinished kitchens.
2022-11-01
Martin Ždímal becomes new CEO of RIXO.cz
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Martin Ždímal has become the Chief Executive Officer CEO of the online insurance company RIXO.cz, effective November 1st. The current head of the product and technology department of RIXO.cz will take over the CEO role from Pavel Krbec.
Martin Ždímal (40) has a long history at RIXO.cz. He was involved in the company’s founding and is largely the author of its philosophy - i.e. comparing customers’ insurance policies free of charge and offering the most advantageous option in terms of price and breadth of insurance coverage. Before joining RIXO.cz, he worked successfully at Česká pojišt'ovna, Generali and PPF.
“I very much appreciate the offer to become CEO,” said Martin Ždímal on his appointment. “RIXO.cz is very much a cause that is dear to me, and I am convinced that it has promising prospects for further development.”
Tomáš Kočka, partner of EMMA Capital Group, which is the 100% owner of RIXO.cz, adds: “From our point of view, Martin Ždímal is the ideal person to lead RIXO. He founded the service, he knows it inside out, and we always anticipated that he would one day lead the company as CEO.”
Martin Ždímal takes up his new position, with all its responsibilities, immediately.
RIXO.cz is the most sought-after insurance and energy comparison site with a 100% customer focus. It compares the full breadth of insurance products: from car insurance, through property insurance, to life insurance. It takes care of customers for the long term, including providing them access to their contracts through its mobile app.
EMMA Capital is a private investment holding founded in 2012 by Jiří Šmejc. In recent years, it has focused chiefly on markets in the European Union, but is also present in other markets in Europe and Asia. It usually plays an active role in companies where it acquires an equity stake, participating in their management, development and in any eventual restructuring. EMMA’s investment priority is retail and customer-oriented companies.
Contact:
Pavel Zuna
Tel.: +420 602 475 698
Email: [email protected]
2022-08-31
EMMA Capital enters the Romanian gaming market
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EMMA Capital Group has successfully concluded negotiations for a capital entry into Romanian gaming companies Get’s Bet and Club King. It will acquire a majority stake of 67% in both companies.
This is EMMA Capital’s first gaming acquisition in Romania. More generally, however, the group has been present on the local market for almost a decade; it stands behind the dynamic development of gas and energy company Premier Energy, including its latest investment in renewable energy.
Pavel Horák, EMMA Capital’s Chief Investment Officer, commented on the acquisition of Get’s Bet and Club King: “We are very pleased with the agreements we came to. These are companies with extensive experience in the local market and with great potential for growth. I believe that the combination of excellent local management with our international know-how and strong capital position, will grow Get’s Bet Group to rank among the most important companies on the Romanian market.”
Both parties have agreed that the companies’ current management will remain in place, with EMMA Capital only complementing them in positions focused on the two companies’ strategic development.
“We are very much looking forward to working with EMMA Capital,” says Get’s Bet CEO, Cristian Roman. “I am convinced that EMMA’s capital injection marks the beginning of a new stage in our evolution, which will herald further development of our companies and a significant strengthening of our position on the market.”
One of the key areas the new partners want to focus on is the development of online activities that will further expand the possibilities for users on the Romanian market. Here, EMMA Capital Group will be able to apply its experience from running the successful SuperSport betting agent in Croatia.
Get’s Bet and Club King are Romanian gaming companies founded in 1993 and 2004 respectively by prominent businessman Sandu Ghetu. Together, they have more than a thousand branches throughout Romania, and in recent years have been gaining an increasing market share, including in the online segment.
EMMA Capital is a private investment holding founded in 2012 by Jiří Šmejc. In recent years, it has focused chiefly on markets in the European Union, but is also present in other markets in Europe and Asia. It usually plays an active role in companies where it acquires an equity stake, participating in their management, development and in any eventual restructuring. EMMA’s investment priority is retail and customer-oriented companies.
Contact:
Pavel Zuna
Tel.: +420 602 475 698
Email: [email protected]
2022-08-11
EMMA Capital sells three quarters of SuperSport
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EMMA Capital Group announces that it has successfully concluded negotiations with Entain plc, a leading global sports betting and gaming group, for the sale of a 75% stake in the Croatian gaming company SuperSport. The two parties will also contribute their shares to a newly established joint venture, Entain CEE, in which they will each hold shares in a corresponding ratio, i.e. 75:25.
“We have been able to develop SuperSport into a dominant part of our portfolio. This led to us receiving very interesting offers for it. In order to diversify our assets further, we ultimately decided to accept Entain’s offer. It was the most comprehensive one and, moreover, it allows us to stay in a sector that we have learned to understand very well and have always been successful in,” Pavel Horák, Investment Director of EMMA Capital, comments on the transaction.
According to Horák, Entain’s investment will provide SuperSport with completely new prospects for further development and growth, both organically and through new acquisitions. EMMA Capital will actively participate in their fulfilment.
“With the entry of Entain, SuperSport has - figuratively speaking - qualified for the top European league. The presence of such a significant global player opens up entirely new development opportunities for SuperSport and we are happy to be part of this,” elaborates Horák.
Jette Nygaard-Anderson, Entain's CEO, commented: “We are excited to create Entain CEE to underpin our strategy across the CEE region, as well as our acquisition of Supersport in the highly attractive, fully regulated Croatian market. By bringing together Entain’s global expertise and EMMA’s regionalinvestment track record, we are creating a growth platform with considerable opportunity.”
With regard to the running of SuperSport itself, the partners do not plan any changes, and the company will continue under the same operational setup to which it has been accustomed. Radim Haluza remains the CEO.
The transaction also includes Croatian company minus5, which developed and continuously expands SuperSport’s IT platform, as well as SuperSport’s subsidiary, Puni Broj.
The acquisition price is dependent on SuperSport’s performance in 2022 and is estimated at EUR 690 million. This equates to a total valuation of SuperSport of EUR 920 million. At the same time, if certain performance criteria are met in 2023-24, EMMA Capital may receive higher dividends than would otherwise correspond to its 25% stake. The entire transaction is expected to be completed by the end of the year at the latest.
SuperSport was founded in 2000 and has gradually developed into the largest gaming company in Croatia, with a market share of over 54%. The focus of its activity rests in sports betting, but it also operates in other segments such as online casino. EMMA Capital entered SuperSport in 2018 and took full control of it in early 2022.
Entain plc is a leading global sports-betting, gaming and interactive entertainment group, operating both online and in the retail sector. The Group owns a comprehensive portfolio of established brands, including bwin, Coral, Crystalbet, Eurobet, Ladbrokes, Neds Foxy Bingo, Gala, GiocoDigitale, and Partypoker. The Group has a 50/50 joint venture, BetMGM, a leader in sports betting and iGaming in the US. Entain is a leader in ESG, a member of FTSE4Good, the DJSI and is AA rated by MSCI. For further information, please visit www.entaingroup.com
EMMA Capital is a private investment holding founded in 2012 by Jiří Šmejc. In recent years, it has focused chiefly on markets in the European Union, but is also present in other markets in Europe and Asia. It usually plays an active role in companies where it acquires an equity stake, participating in their management, development and in any eventual restructuring. EMMA’s investment priority is retail and customer-oriented companies.
Contact:
Pavel Zuna
Tel.: +420 602 475 698
Email: [email protected]
2022-07-01
EMMA Capital acquires a majority stake in FAVI
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EMMA Capital Group has today successfully completed negotiations on its capital entry into online furniture and decoration search engine, FAVI online s.r.o. EMMA bought a 65% stake from its existing majority owner, Pale Fire Capital, and also acquired half of a 35% stake from the company's founders, Jan Sellers-Zajic and Radomir Hejl. The share of EMMA Capital thus amounts to 82%, with the rest remaining in the hands of the two founders.
Jan Sellers-Zajic and Radomir Hejl founded FAVI as a start-up in 2016. Since then, the company has attained the position of the most important such company on the Czech market. It has also won several awards and successfully expanded abroad. Today, it offers its services in nine European markets, including Romania, Hungary, Poland, Italy, the UK and Sweden.
The FAVI website is currently visited by over ten million users per month. They can choose from five million items, sold by more than two thousand furniture and home accessories retailers.
“We are very happy about our acquisition of FAVI,” says EMMA Capital partner Michal Houšt', adding: “The company fits well into our e-commerce portfolio and we believe that we will be able to create interesting synergies in certain areas. At the same time, I am convinced that, thanks to our financial standing, we can add further impetus to the company’s already admirable development.”
The operational management of the company will remain in the hands of its founders, while EMMA Capital Group’s remit will focus primarily on strategic decisions. Jan-Sellers Zajic will remain as CEO. Commenting on joining EMMA Capital, he said: “From the beginning, we’ve been building FAVI with the goal of inspiring users and being their number one choice for furniture and décor. Over the course of six years, we have built an international project with the potential to grow in current markets and enter new countries through easy scalability and a strong brand. EMMA Capital’s entry is evidence that we are moving in the right direction. EMMA Capital has a track record of managing large successful companies, so we are confident that they will support us in achieving our goals, namely product and technology innovation, opening new markets, expanding our team and bringing FAVI closer to our customers through the quality of our service, and strengthening the FAVI brand.”
The second of the company’s founders, Radomir Hejl, will continue to serve as CTO/CPO.
The parties involved have agreed not to disclose the price of the transaction.
FAVI is an online furniture and home décor search engine. It operates in nine European markets and brings together offers from more than two thousand stores. It enables customers to find exactly what they are looking for or to inspire them when furnishing their homes. For e-shops and retailers, FAVI acts as a marketing platform that brings them a significant share of customers and sales.
EMMA Capital is a private investment holding company founded in 2012 by Jiří Šmejc. In recent years, it has focused primarily on markets in the European Union, but is also present in other markets in Europe and Asia. It usually plays an active role in companies where it acquires an equity stake, participating in their management, development and possible restructuring. In addition to retail and customer-facing companies, it invests across sectors such as financial technology, consumer finance, gas and electricity distribution, gaming, insurance, pharmaceuticals and healthcare.
Contact:
EMMA Capital:
Pavel Zuna
Tel.: +420 602 475 698
Email: [email protected]
FAVI:
Patricie Šedivá
Tel.: +420 603 400 140
Email: [email protected]
2022-03-04
EMMA Capital buys further 33% stake in Croatian gaming company SuperSport
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EMMA Capital Group has successfully concluded negotiations with Danko Ćorić, a minority shareholder of gaming company SuperSport, to buy out his 33% stake. EMMA Capital thus becomes the dominant owner of SuperSport with a 98.45% stake.
The buyout of Mr. Ćorić's stake was carried out in accordance with the agreements concluded after EMMA SuperSport’s majority stakeholder, following the earlier division of SAZKA Group’s assets between KKCG and EMMA Capital.
“Cooperation with Mr. Ćorić has always been excellent, we have developed a very friendly relationship and we are considering further joint projects,” Pavel Horák, Investment Director of EMMA Capital, commented on the transaction.
SuperSport is a leader in the Croatian sports betting market and also offers online games to its clients. It operates only in Croatia and is fully regulated. In 2021, it achieved a net profit of HRK 485 million.
The price paid by EMMA Capital for a 33% stake is based on, among other factors, SuperSport's results in 2021, and both parties have mutually agreed not to disclose it. The transaction has been approved by the Croatian regulator.
Contact:
Pavel Zuna
External Relations Manager, EMMA Capital
Na Zátorce 672/24, Praha 6, 160 00
Tel.: +420 602 475 698
Email: [email protected]
2022-02-28
EMMA Capital Group enters the green energy market
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EMMA Capital, through its wholly-owned energy group Premier Energy, has successfully closed the acquisition of two Romanian renewable energy companies. The acquisitions include a 100% stake in Ecoenergia, which operates a wind power plant near the city of Stejar, and a 51% stake in Alive Capital, which provides services to smaller renewable energy producers.
Ecoenergia, which has fifteen wind turbines with a total capacity of 34.5 MW, started operations in 2014. Its plant is advantageously situated in the Tulcea area near the Black Sea, which offers some of the best conditions for wind power in Southeastern Europe. In 2021, Ecoenergia generated over 76,000 MWh of green energy.
Alive Capital was established in 2013, and provides an extensive combination of services to green energy producers: from distribution and maintenance of equipment, to business and accounting operations, to tax and administrative consulting. It manages 437 MW of individual green energy producers’ resources spread across the Romanian Republic. In 2020, it reported revenues of €50 million.
"We consider the completion of these acquisitions to be a great success," says Peter Stohr, board member of Premier Energy and partner at EMMA Capital. "Through them, we are entering the promising green energy market in an emphatic way. This market will become the logical third pillar of the Premier Energy Group, alongside the distribution and sale of natural gas and the distribution and sale of electricity."
Premier Energy Group is currently one of the fastest growing energy companies in Southeastern Europe. In 2021, its revenues reached €400 million. In addition to its current entry into the green energy market, it is the third-largest seller and distributor of natural gas in Romania and the largest seller and distributor of electricity in Moldova. Its market share there is approximately 70%.
Contact:
Pavel Zuna
External Relations Manager, EMMA Capital
Na Zátorce 672/24, Praha 6, 160 00
Tel.: +420 602 475 698
Email: [email protected]
2021-11-09
EMMA Capital acquires majority stake in Mailstep
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Mailstep, one of the largest domestic companies focused on logistics in the e-commerce sector, announced today that it has successfully concluded negotiations with EMMA Capital Group for the sale of a 70% stake. This is the largest ever completed acquisition in the Czech Republic in the internet logistics sector.
Mailstep was founded by its current owner Jan Rozlivka in 1990. Over the course of three decades, the company has become a leader on the Czech market in fulfilment (comprehensive logistics solutions for e-shops) and finishing (comprehensive service for modern media houses and the printing industry). From its Prague headquarters, it serves domestic and foreign customers, especially from the European Union and the UK. The European market accounts for more than 65% of the total volume of its shipments.
“EMMA Group’s capital entry will enable us to expand to an even greater extent into foreign markets,” comments Jan Rozlivka. “Order volumes from some regions are already so high that it is worthwhile for us to set up new logistics centres and serve the region from them. This is another step towards our long-term goal: to be one of the foremost players in our industry on the European market.”
In the first phase, Mailstep intends to build distribution centres for South-West Europe (Spain) and South-East Europe (Romania and Greece).
Mailstep selected EMMA Capital Group among many interested parties. According to Jan Rozlivka, the decisive factors were the way EMMA acts in the companies in which it has acquired an equity stake, its financial background, its international experience and, above all, a shared vision for the further development of the company.
EMMA Capital partner Michal Houšt' adds: “The acquisition of Mailstep fits well with our interest in the e-commerce sector on the European continent. We believe it is possible to achieve synergies with our other investments in this sector and help Mailstep to develop dynamically in new markets.”
As part of the agreement for EMMA Capital’s entry into Mailstep, the current management will continue in their positions.
Mailstep is a technology and logistics company with more than 30 years of experience founded by Jan Rozlivka. Since 2015, it has been investing significantly in technology and state-of-the-art techniques in the e-commerce fulfilment segment. High complexity and the ability to quickly implement innovations has secured Mailstep’s position as a trendsetter in areas where it provides its customers with high value-added services and products.
EMMA Capital is a private investment holding company founded in 2012 by Jiří Šmejc. In recent years, it has focused mainly on markets in the European Union, but is also present in other markets in Europe and Asia. It usually plays an active role in companies where it acquires an equity stake, participating in their management, development and possible restructuring. In addition to retail and customer-facing companies, it invests across sectors such as financial technology, consumer finance, gas and electricity distribution, gaming, insurance, pharmaceuticals and healthcare.
Contact:
Pavel Zuna
External Relations Manager, EMMA Capital
Na Zátorce 672/24, Praha 6, 160 00
Tel.: +420 602 475 698
Email: [email protected]
2021-08-08
Bazzar receives growth equity investment from EMMA Capital Group
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EMMA Capital Group, an investment holding focused on the emerging markets of Central and Southeast Europe, has completed a growth equity investment in Bazzar, a fastest growing technology company operating e-commerce marketplace in SEE.
EMMA Capital joins the company via growth equity financing and emerges as a new shareholder while the founding shareholders will continue to manage the business and retain significant stakes in the company. Based on a shared development plan, which will allow the company to significantly benefit from the accelerated growth, the proceeds will be used to further strengthen Bazzar’s market position in Croatia, as well as to expand onto international markets with particular emphasis on Southeast Europe.
EMMA Capital’s investment in Bazzar underlines its strategy of focusing on growth companies with international expansion opportunities.
The transaction was signed and closed in Zagreb on August 3, 2021.
Bazzar was advised by Grubisic & Partners – Corporate Finance and BMWC law firm while EMMA was advised by Lovrić, Novokmet, Smrček.
About Bazzar
Bazzar is a fastest-growing Croatian technology company operating e-commerce marketplace for lifestyle consumer brands and one of the best performing of its kind in SEE region. Bazzar offers a wide range of products and it’s considered as a diversified marketplace combining both lifestyle and FMCG products with more than 200 thousand listed products and over 750 thousand site unique visitors per month. With several hundred thousand registered customers, over 700 committed merchants, and an in-house tailor-made technology, Bazzar is expected to become one among region's forerunners of the growing digital economy development.
About EMMA Capital Group
EMMA Capital is a private investment holding established in 2012 at the initiative of Mr. Jiří Šmejc. EMMA Capital seeks to make investments in the growing markets of Central and Southeast Europe, and to a lesser extent in other markets of Europe, Asia, and North America. As part of its strategy, EMMA Capital often takes an active role in the management of its portfolio companies. In addition to targeting exceptional and proven retail and B2C businesses, EMMA Capital invests across sectors such as fintech, consumer finance, gas and energy distribution, gaming, insurance, pharma, and healthcare.
Media Contact:
Tana Zimmermann
Bazzar
Pile I 1
Zagreb 10000
Tel.: +385 14 400 425
Email: [email protected]
2021-06-28
Kiveda Group Holding forms new “Home Furniture Group”
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• Kiveda Group and its subsidiary “küchenquelle” get strengthened by new strategic partner, EMMA Capital. Together, EMMA and the existing shareholders form the new “Home Furniture Group” (HFG) to expand küchenquelle’s tech-enabled direct sales approach from kitchens into broader areas of home furniture market
• Christian Neusser (MD Kiveda Group): “After the success of the tech enabled direct sales approach in the kitchen market we see high potential to also cover other areas of the home furniture market – customers` enormous demand is a clear signal to expand into broader areas in various European markets”
• EMMA and the existing shareholders see the Kiveda`s mixed reality technology – provided by Island Labs, Berlin - as pivotal for implementing the accelerated growth strategy and secure the technology potential for HFG in the long term
• Alongside long-term partner EMH, EMMA Capital will provide capital to further support the growth story.
Nuremberg/Berlin/Prague, 28th June 2021: EMMA Capital, EMH and minority shareholders of the Kiveda Group Holding, the parent company of “küchenquelle”, will form the new “Home Furniture Group”. The new formed group will target to further disrupt the furniture market by expanding its successful tech enabled direct sales approach from kitchens into adjacent areas of home furniture. EMMA and the existing shareholders see the used mixed reality technology, provided by Island Labs, Berlin as pivotal for implementing the accelerated growth strategy and secure the technology potential for HFG in the long term. With the new strategic Partner, EMMA Capital, on board, the Group is strengthened and well prepared to grow within the European market with its unique sales approach.
Christian Neusser, MD Kiveda Group: “For a meaningful/large-scale investment, such as a kitchen, customers wish to experience / visualise it as realistic as possible before the actual purchase. With küchenquelle`s outstanding mixed reality solution every customer can experience almost realistically his or her future kitchen convenient at his home. Having successfully built up the business model we see high potential to also expand the offering into new markets for a broader range of home furniture.”
Nürnberg based küchenquelle is the leading tech-enabled direct sales kitchen retailer in Germany. It employs 130 kitchen consultants who provide a unique experience to their customers during home visits using the mixed-reality planning software “.rooms”. Annually, the company generates approximately ~€100m revenues and delivers around 13,000 kitchens to its customers and has historically achieved consistent double digit year over year growth rates for the direct sales force business.
Berlin based Island Labs leading mixed reality software company, owns and develops the mixed-reality planning technology “.rooms”, revolutionizing the interior design and planning market. Island Labs is recognized by Microsoft as one of the 10 most innovative companies that employ the Microsoft HoloLens technology. The technology is success proven at “küchenquelle” and will become part of the new group. HFG's location will be Nuremberg.
Together küchenquelle and Island Labs will form the back-bone of the newly established Home Furniture Group – with a tech enabled direct sales force further tailoring the proprietary “.rooms” technology to provide the best mixed reality planning experience for customers at their homes.
The present main shareholders remain invested. EMH Partners has been part of the digital transformation of interior design as an investor of küchenquelle since 2016. EMMA Capital will provide further significant growth capital to execute the growth strategy. With forming the new Home Furniture Group, EMMA and EMH enter into a strong partnership with each having a shareholding of more than 40%, the remainder will be held by two minority shareholders.
EMMA Capital partner Michal Houst: “EMMA has long focused on investments for end customers, so the entry into Home Furniture Group is a continuation of our activity in this area. Of particular relevance to us is the fact that küchenquelle is a major, and technologically well-established, player in the strong and fundamentally growing German market for kitchens and interior design. I am confident that together with EMH we will be able to leverage technology and retail experience across Europe.”
Dominik Schwarz, Partner at EMH Partners: “We are pleased, that EMMA Capital shares our vision of digitizing the market for interior design in Europe. EMMA recognized the unique tech-enabled direct sales approach and strong brand of küchenquelle, the disruptive value of Island Lab’s mixed-reality proposition and the untapped market potential in the European furniture market. Together with the management EMMA and EMH will create a new and innovative approach to providing customers with modern home furniture experiences.”
Consummation of the transaction is subject to customary closing conditions. The parties involved have agreed to keep the terms of the investment confidential. The management team, with the full support of EMMA & EMH, will remain focused on the ambitious opportunities ahead.
About EMMA Capital
EMMA Capital is an investment group founded in 2012. It specializes in strategic investments into B2C businesses, and operates in sectors such as fintech, consumer finance, gas and energy distribution, gaming, insurance, pharma and healthcare. As part of its strategy, EMMA Capital is often actively involved in the management of acquired companies. It is focused on Central, Southeast and parts of Eastern Europe. It also has experience from markets such as USA, Italy and Austria.
About EMH Partners
EMH Partners is an owner-led investment firm by entrepreneurs for entrepreneurs. As a next-generation private equity company and one of the leading investors in the DACH region, EMH Partners supports the growth of Mittelstand companies with capital, digitisation and expansion expertise. EMH Partners invests in market-leading, owner-managed companies to accompany them in partnership during the next growth phase. Today, EMH Partners manages more than €1 billion of committed capital. For more information on EMH Partners, please visit www.emh.com.
Contact:
EMH Partners GmbH
[email protected]
2020-06-30
EMMA Capital Group reports record profit in 2019
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EMMA Alpha Holding, the main holding company of EMMA Capital Group, closed 2019 with a profit of EUR 630 million, according to its audited results. This represents the best economic result that the Group has attained since its founding in 2012.
In addition to the accounting results of the companies in which the Group holds a share, a one-off profit totalling EUR 447 million from the Group’s sale of minority stakes in SAZKA Group and Home Credit Group also contributed to this result. The consolidated equity of the Group increased from EUR 512 million to EUR 1.038 billion.
“We were very pleased with the results for 2019. Particularly in these difficult times, they create a very good ‘cushion’ to cover the fluctuations that will result from the 2020 coronavirus crisis,” said Jiří Šmejc, the Group’s founder and main shareholder.
EMMA Capital’s Investment Director, Pavel Horák, added: “It is also gratifying that in 2019, our Group fundamentally shifted the emphasis of its activity from companies where it holds a minority stake to companies with a controlling stake which it can manage much more actively. This is the trend we sought. It was also the main reason why we sold our stake in SAZKA Group and part of our stake in Home Credit.”
As a comparison, as recently as 2018, a mere EUR 5 million in operational profit was generated by companies which EMMA Capital controlled through a majority stake, whereas companies in which it held a minority stake yielded EUR 62 million. In 2019, the ratio of operating profit of controlled companies vs. companies with minority stakes was already EUR 163 million to EUR 54 million, in favour of the companies in which the Group holds a controlling stake.
Contact:
Pavel Zuna
External Relations Manager
EMMA Capital
Na Zátorce 672/24
Praha 6
Tel.: +420 226 291 600
E-mail: [email protected]
2020-06-15
EMMA Capital acquires majority stake in PROFARM
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The EMMA Capital Group has acquired a 60% stake in the Greek pharmaceutical company PROFARM. The company is one of the largest wholesale distributors of medicines and medical supplies in the country. EMMA Capital joins the company through an increase in its share capital.
Headquartered in the capital city of Athens, PROFARM was founded in 1993 and currently serves 650 pharmacies and over one hundred pharmaceutical wholesalers. It employs 105 people and expects a turnover in excess of EUR 100 million in 2020.
Theodoros Skylakakis, one of the company’s founders and its CEO, welcomed EMMA Capital’s entry through its capital injection: “PROFARM has always had - and continues to have - the ambition to become the most important company operating in this sector in the Greek market. I believe that thanks to the entry through capital of a strong partner who has already been active in Greece and has gained considerable respect here, we will be able to fulfill this long-term goal.”
The EMMA Capital Group is well known in Greece since 2013, when it formed an international consortium that won a public tender for the privatization of the Greek state’s 33% share in the lottery company OPAP. Between 2013 and 2018, EMMA Capital had managerial control of OPAP.
“I am confident that we will apply our experience from the Greek market in this sector, which is new to us. We have been closely following PROFARM for a long time and we see great promise in the company. That is why I am glad that the entire acquisition process was brought to a successful conclusion”, said EMMA Capital partner Michal Houšť, who served as OPAP's CFO until 2019.
The entire transaction was signed in Athens on June 15th, 2020, and the capital increase will take place in July.
Contact:
Pavel Zuna
External Relations Manager
EMMA Capital
Na Zátorce 672/24
Praha 6
Tel.: +420 226 291 600
E-mail: [email protected]
2020-05-19
Pavel Krbec becomes the new CEO of the RIXO.cz Insurance Service
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Related to the recent takeover of the RIXO.cz online insurance service by the EMMA Capital Group, the change of CEO of this service will take place on 19 May 2020. The current CEO, Aleš Žárský, will be replaced by Pavel Krbec.
“Aleš Žárský had a huge impact on how the RIXO.cz Service has changed over time from a start-up company to one of the main insurance services on the Czech insurance market. Thanks to his contribution, we can offer a service that is completely unique in its parameters,” said Tomáš Kočka, one of the partners of the EMMA Capital Group.
The new CEO Pavel Krbec joined the EMMA Capital Group along with the acquisition of RIXO.cz in March this year. He has worked as an executive director of RIXO.cz until recently. Previously, he worked for four years at Home Credit International as a Director for Online Strategy. In 2014-16 he has worked for the Swedish company MTG (co-owner of Prima TV), and since 2008 he worked for TV NOVA. He held the post in senior management in the field of online broadcasting in both companies.
“I am looking forward to working in the new position. I believe that we will continue to develop the RIXO.cz Insurance Service successfully and make sure that our customers will be always properly insured. Our goal is to offer our customers a unique service, where they will have all the insurance policies stored in one place and will never have to worry about them again,” said Pavel Krbec after taking his new position.
RIXO.cz is a service that checks people's insurance contracts free of charge and helps them to improve them. What it means is that clients upload their insurance contracts to an online overview, RIXO checks them for free and evaluates them with the RIXO index. After that they monitor the dates and recommend better insurance with better policies if applicable.
The RIXO.cz service started operating in the middle of 2018 and since then has served more than 16,000 users. In March 2020, the RIXO.cz Service has been purchased by the EMMA Capital Group.
About the RIXO.cz Service:
RIXO.cz is a free online insurance service with no other competition on the market in the Czech Republic. It saves people’s money on insurance, takes care of insurance contracts and policies, and helps its‘ customers to prevent any issues they may have with their insurance. The company creates an online overview of insurance policies from all insurance companies in the Czech Republic free of charge. For contracts, the company checks whether they are set up correctly, whether they cover everything essential, and whether or not they are the best the customer can have. They will evaluate them with the RIXO index, which on a scale of 1-10 indicates how good the contract is compared to others on the market. RIXO customers can easily switch to different insurance company. RIXO.cz also monitors important policy terms and helps with insurance claims. In March 2020, the RIXO.cz Service has been purchased by the EMMA Capital Group.
Contact:
Pavel Zuna
External Relations Manager
EMMA Capital
Na Zátorce 672/24
Praha 6
Tel.: +420 226 291 600
E-mail: [email protected]
2020-03-09
EMMA Capital Group acquired the online insurance service RIXO.cz
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EMMA Capital Group completed its acquisition of RIXO.cz, a company which checks people’s insurance contracts and helps to improve them free of charge. RIXO.cz provides an online service which, thanks to its characteristics, is unique on the Czech market. Until now, the company was part of Home Credit Group’s portfolio.
RIXO.cz’s service lets customers upload their insurance contracts to an online interface, where RIXO checks them for free and offers feedback, including recommendations about where it may be possible to secure the same level of insurance on better terms.
“We decided to take over RIXO.cz because it is a very positive, customer-oriented service. We believe that as a smaller, but distinctly flexible investment group, we will be able to successfully develop this project further. At the same time, we also have the requisite managerial background,” commented EMMA Capital’s Investment Director Pavel Horák.
Thanks to their work at Home Credit Group, both EMMA Capital’s main shareholder Jiří Šmejc, and one of EMMA Capital’s partners, Tomáš Kočka, are deeply familiar with the RIXO.cz project. Additionally, Home Credit’s Head of Online Pavel Krbec is joining EMMA Capital; he will be responsible for the RIXO project.
“I am looking forward to working in RIXO, because this is the only Czech company in the online insurance industry which unambiguously stands on the side of the customer,” said Pavel Krbec about his new assignment. Speaking about how RIXO’s operations function, he added: “Its main contribution is that in a full 70 percent of cases, we are able to uncover poorly set up insurance contracts for our customers, or an exorbitant price – indeed, often both of these issues together. The whole service is also set up in such a way that even users who are less technologically-inclined can use it without problems."
The RIXO.cz service started working halfway through 2018, and since then has served over 12,000 customers.
Contact:
Pavel Zuna
External Relations Manager
EMMA Capital
Na Zátorce 672/24
Praha 6
Tel.: +420 226 291 600
E-mail: [email protected]
2020-02-20
EMMA Capital increases its stake in Moldovan energy companies
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EMMA Capital Group has acquired a 24% shareholding in the Moldovan energy companies Premier Energy s.r.l. and Premier Energy Distribution S.A. The stake was purchased from the London-based fund Duet Private Equity, and from Moldova Invest, which is controlled by Danish investor August Lund. EMMA’s share in the two Moldovan energy companies has consequently increased to 93%.
EMMA Capital entered the Moldovan market in July 2019, when it purchased a 69% stake in both companies (then known as Red Union Fenosa and Gas Natural Fenosa) from the Spanish energy group Naturgy. At the time, the purchase was the biggest Czech investment into the Republic of Moldova in history; the current transaction raises the value of that investment even further.
“We are pleased that we can represent the Czech Republic as an investor into the Moldovan market”, said EMMA Capital Investment Director Pavel Horák. “We believe that we will succeed in leading both companies in a manner that will be beneficial not only for us as investors, but primarily for our customers.”
In December 2019, both companies were incorporated under the Premier Energy brand, which encompasses EMMA Capital Group’s investments in the energy sector in neighboring Romania.
Pavel Horák commented further: “Our experience from Romania is key. In 2014 we launched there with a limited investment and today we are one of the important players on the Romanian energy market. I am convinced that we will be able to leverage this experience as we take on the largest companies in Moldova.”
Premier Energy Group today operates in Romania and Moldova. It is active in the distribution of gas and electricity. It has 950,000 customers. Based on the preliminary unaudited results, Premier Energy’s EBITDA reached almost EUR 48 million in 2019; its net profit was around EUR 27 million.
Media Enquiries:
Pavel Zuna
External Relations Manager
EMMA Capital
Na Zátorce 672/24
Prague 6
Tel.: +420 226 291 600
E-mail: [email protected]
2019-09-17
EMMA has submitted an offer to acquire Vivartia Group
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EMMA Capital has made an offer to MIG financial group to acquire the food production group Vivartia, or a majority stake in it, from MIG. EMMA’s representatives are confident that the offer is mutually beneficial, and that it would allow Vivartia to undergo substantial financial consolidation.
EMMA Group’s intention is to carry out business and financial restructuring of Vivartia, which would allow it to reclaim its leading position not only on the Greek market, but across Europe as well. In addition to the purchase price, EMMA is prepared to also buy part of Vivartia’s banking debt, thereby lowering its external banking debt burden to sustainable levels.
At the same time, the financially attractive offer of about nine-fold EBIDTA leaves existing shareholders the freedom to decide whether to sell Vivartia in its entirety, or to retain a minority stake and actively participate in its restructuring.
Pavel Horák, EMMA Group’s Investment Director, said, “We believe that Vivartia has considerable potential despite its current financial difficulties. For this reason, we are ready to consolidate it and subsequently develop its business. We are not striving to reap immediate benefits from the current situation; rather, we are looking at a serious and long-term plan to bring this renowned company to new heights. In this respect, our offer fundamentally differs from all the others that have recently appeared.”
Speaking to the overall strategy of EMMA Group in Greece, Pavel Horák added, “We have always kept faith in the Greek market – even when most others preferred to withdraw from it. And I am convinced that our work in OPAP has proved that we are a reliable partner that fulfils its promises and, above all, understands how to restructure major companies.”
In 2013, EMMA Group took part in creating an international consortium that bought a 33% stake in OPAP for EUR 652 million, and subsequently managed its restructuring process for several years. In 2018, as part of the SAZKA Group settlement, EMMA transferred its stake in OPAP to KKCG, which continues to manage it today. Over the course of EMMA’s control over the company, the embedded value of OPAP’s shares – in the form of their share price and dividends paid – appreciated to more than double its original value.
Media Enquiries:
Pavel Zuna
External Relations Manager
EMMA Capital
Na Zátorce 672/24
Prague 6
Tel.: +420 226 291 600
E-mail: [email protected]
2019-08-01
The EMMA Capital Group completed the acquisition of Moldovan energy companies
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The EMMA Capital Group and the London-based Duet Private Equity have completed a transaction in which their joint venture purchased from the Spanish energy group Naturgy companies Red Union Fenosa (RUF) and Gas Natural Fenosa Furnizare Energie (GNF). These companies are engaged in the distribution and sale of electricity in the Republic of Moldova. The EMMA Capital Group holds a 69% stake in the joint venture. The shareholders of the joint venture have at this time agreed on a common approach in the management of the two newly acquired companies.
The transaction, the valuation of which will not be disclosed as agreed between the parties, was preceded by the consents of the Moldovan state and regulatory authorities.
„For the EMMA Capital Group this acquisition is a logical step. Since 2013 we have been operating in the field of gas distribution in Romania and the local Premier Energy company, which was originally only a marginal investment for us, has brought us interesting appreciation. So we can say that we have a relatively rich experience with both the energy sector and the given territory ”, said Pavel Horák, EMMA Capital Chief Investment Officer.
EMMA Capital Group's entry into RUF and GNF represents concurrently the largest ever Czech investment within the territory of the Republic of Moldova.
Red Union Fenosa (RUF) is one of two electricity distributors in Moldova. It supplies electricity to two thirds of the Moldovan population, including the capital city of Chisinau. In 2018, it distributed 2 759 GWh of electricity to customers in 19 regions of the Republic of Moldova.
Gas Natural Fenosa Furnizare Energie (GNF) is the largest electricity seller in the country. In 2018, the company had more than 800 thousand customers.
EMMA Capital Group is an investment holding focused on foreign markets. Its activities are mostly directed at the retail sector, with the usual strategy being active participation in the management of companies in which EMMA has invested in. The EMMA Capital was established in 2012 at the initiative of Jiří Šmejc and through its equity investments is present in the markets of Europe, Asia and North America.
Media Contact:
Pavel Zuna
External Relations Manager
EMMA Capital
Na Zátorce 672/24
Praha 6
Tel.: +420 226 291 600
E-mail: [email protected]
2019-05-29
New EMMA bonds sold out in advance
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The full emission of bonds issued by EMMA GAMMA FINANCE, a.s. were sold out in advance of today’s issuing date.
The bonds are intended to finance EMMA Capital's investment in the Croatian company SuperSport, which was acquired as part of the division of SAZKA Group among Karel Komárek’s KKCG Group and Jiří Šmejc’s EMMA Group.
Securities worth EUR 90 million, bearing 4.9% interest, were bought up in a single week and excess demand meant that some bidders had to be cut. The bonds have a term of five years, were issued through J&T Banka and will be listed on the Bratislava Stock Exchange. Prague's PPF Banka also participated in their offering.
EMMA Group previously issued bonds (bearing interest of 5.25%) in July 2017; the full EUR 120 million issue was successfully repaid in April this year.
Media enquiries
Pavel Zuna
External Relations Manager
Emerging Markets Capital, a.s.
Na Zátorce 672/24
Praha 6
Tel.: +420 226 291 600
E-mail: [email protected]
2019-04-30
Agreement between PPF and EMMA Capital regarding further cooperation in Home Credit Group
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PPF Group and EMMA Group agreed to complete the process of transferring a 2.5% ownership share of Home Credit Group from EMMA Group to PPF Group. This step fulfils a previous agreement between PPF and EMMA. PPF Group thus now holds a 91.12% stake in Home Credit Group, while EMMA Capital holds the remaining 8.88%. The completed transaction values Home Credit Group at EUR 8.5 billion.
The wider agreement also includes a further continuation of the successful cooperation between PPF and EMMA Capital in Home Credit Group for a further five years. Jiří Šmejc will remain Executive Chairman of Home Credit Group for the duration of the aforementioned agreement.
Media enquiries
Pavel Zuna
External Relations Manager
Emerging Markets Capital, a.s.
Na Zátorce 672/24
Praha 6
Tel.: +420 226 291 600
E-mail: [email protected]
2019-03-18
KKCG and EMMA have agreed to divide the assets in the SAZKA Group
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Prague 14 March 2019 - KKCG Group, owned by Karel Komárek, and EMMA Capital, owned by Jiří Šmejc, have successfully concluded negotiations on the split of the assets in the SAZKA Group. The agreement was signed today.
Following the transaction, the KKCG Group will hold 100% of the shares in SAZKA Group and all the shares which SAZKA Group holds in the Sazka Czech, the Greek OPAP, the Italian LOTTOITALIA and the Casinos Austria businesses. These businesses will continue to be associated with the SAZKA Group brand.
EMMA will receive all the shares in the Croatian sportsbook company SuperSport and will receive financial compensation of several hundred million euros. With this settlement, the existing shareholding ratio of both partners in the SAZKA Group, where KKCG owns 75% of the shares and EMMA Capital the remaining 25%, will be accurately adhered to.
“I am glad that together with Jiří we have managed to build the largest lottery group in Europe. At the same time, this is a great example of two Czech investors cooperating and embarking on a successful international expansion, as we have managed to achieve the return of six times the investment. I am looking forward to working on other projects with EMMA and Jiří Šmejc in the future,” said Karel Komárek.
Jiří Šmejc said:“We consider our collaboration with the SAZKA Group to have been very successful. Since we first decided to bid for the privatisation of the Greek gaming company OPAP back in 2013, we have come a long way with our partners at KKCG, creating one of the largest groups in the European lottery and betting industry. This was an excellent experience and successful working relationship which we will certainly utilise in our future retail investment plans.”
Following the division of the SAZKA Group, both KKCG and EMMA will pursue their own separate investment strategies. There will be no impact on the operation of the individual SAZKA Group companies.
The completion of the transaction is subject to the approval of regulatory and competition authorities in respective countries.
KKCG
KKCG is an international investment group managing more than EUR 5.2 billion in book value of assets and employing more than 4,000 employees. KKCG holds stakes in such corporations as MND Group, SAZKA Group, AUTOCONT, US Methanol, FISCHER Group, Conectart, DataSpring, SafeDX, Springtide Ventures and others. KKCG operates in 18 countries worldwide.
EMMA CAPITAL
EMMA CAPITAL is an investment group that specialises in foreign markets. Most of its activities focus on retail. The strategy usually pursued by EMMA Capital is taking active participation in the companies in which EMMA acquires an ownership interest. The EMMA financial group was founded in 2012 at the initiative of its sole shareholder Jiří Šmejc.EMMA is also a minority shareholder of Home Credit Group, with Jiří Šmejc as the Chairman of the Board of Directors.
Media Contacts:
Dana Dvořáková
Corporate Communication Director, KKCG
Vinohradská 230, Prague 10
M +420 602 372 834
T +420 225 010 399
2018-04-27
SAZKA Group becomes a strategic partner holding a controlling stake in SuperSport
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Prague, April 27, 2018 SAZKA Group, one of Europe’s largest gaming operators, has become a strategic partner holding a controlling interest in SuperSport d.o.o. (“SuperSport”), the Croatian market leader in online and land-based sports-betting by GGR.
SuperSport has grown rapidly since the business was founded in 2000 and holds licenses and concessions in land-based and online sports-betting granted by the Croatian Government until 2025.
Robert Chvátal, CEO of the SAZKA Group said, “The acquisition of SuperSport, the market leading Croatian sports-betting company by GGR, has compelling strategic logic, giving SAZKA Group access to an attractive gaming market while strengthening the Group’s position in the dynamic online sports-betting industry.‘‘
Notes to editors
The SAZKA Group is one of Europe’s largest lottery and gaming operators with household brands in Austria, Croatia, Cyprus, Czech Republic, Greece and Italy. The aggregate annual amount of bets placed with companies in which the SAZKA Group holds an ownership interest are in excess of EUR 17 billion and are served through over 62,500 points of sale as well as through online channels and offered under respective licences. The SAZKA Group is strongly committed to responsible gaming, player protection and corporate social responsibility. The SAZKA Group is owned by two international investment groups, KKCG and EMMA Capital.
2018-01-15
SAZKA Group raises its stake in Casinos Austria AG to 34%
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Vienna, January 15, 2018 – The SAZKA Group has increased its indirect stake in Casinos Austria AG from 11.3% to 34%. The increase comes after the European lottery and gaming group completed the acquisition of the indirect shares in Casinos Austria held by LEIPNIK-LUNDENBURG INVEST Beteiligungs AG (LLI) and UNIQA Beteiligungs-Holding GmbH (UNIQA). The transaction received final approval at Casinos Austria AG’s shareholders' assembly after the SAZKA Group received regulatory approvals from all national and international authorities to acquire the shares.
Robert Chvátal, CEO of the SAZKA Group said, “We are pleased to have strengthened our position as the largest strategic shareholder in Casinos Austria and we look forward to continuing our record of successful cooperation with fellow shareholders to support the long-term success of the company. SAZKA Group’s lottery and gaming expertise comes from multiple markets and we are excited about leveraging that experience for the benefit of all of Casinos Austria stakeholders.”
Notes to editors
The SAZKA Group is one of Europe’s largest lottery and gaming operators with household brands in Austria, Cyprus, Czech Republic, Greece and Italy. The aggregate annual amount of bets placed with companies in which the SAZKA Group holds an ownership interest are in excess of EUR 16 billion served through over 62 000 points of sale and offered under respective licences. 100% of the SAZKA Group gaming revenue is regulated and subject to applicable gaming tax. The SAZKA Group is strongly committed to responsible gaming, player protection and corporate social responsibility. The Company is owned by two international investment groups, KKCG and EMMA Capital.
2017-07-20
New bonds of the EMMA Group encountered a very positive reaction
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The bonds, which were offered on the market from 4 July by EMMA Gamma Finance, a.s. and are secured by a 25% shareholding that the EMMA Group holds in the SAZKA Group, were successfully subscribed before the date of their issue. Securities with a value of EUR 120 million found their owners within a mere two weeks.
The bonds are issued for five years with an interest rate of 5.25%. The bonds were issued through J&T Banka and will be listed on the Bratislava Stock Exchange. The bonds were also offered with the assistance of PPF Banka, Prague.
“I was pleasantly surprised at the high level of interest in our bonds,” said Pavel Horák, Chief Investment Officer of the EMMA Group, with respect to the successful issue. “I believe this confirms the fact that after 5 years of existence the EMMA Group has gained a strong reputation in the market. We are well known and renowned for our activities and the EMMA Group itself is considered to be both a trustworthy investor and a business partner.”
EMMA Group was formed in 2012 at the initiative of its majority shareholder Jiří Šmejc, a partner of Petr Kellner in the PPF Group since 2002. Today, the investment holding group focuses on foreign markets and its activities are predominantly directed at the retail sector. The traditional strategy of companies belonging to the EMMA Group is to be actively involved in the management of the firms in whose capital the group’s investments were made.
As a result of its capital interests in the groups Home Credit (11.38%) and SAZKA Group (25%), EMMA has investments in the markets of the EU member states, former Soviet Union states, the dynamically developing markets of Asia and the USA.
Contact:
Pavel Zuna
Head of Investor & Public Relations
Emerging Markets Capital, a.s.
Na zátorce 24, Prague 6
T +420 226 291 600
M +420 602 475 698
E [email protected]
2017-06-09
Sazka Group Increases Its Stake in OPAP
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Prague, 9 June 2017 – The Sazka Group has purchased through its subsidiary Rubidium a 4.8% ownership interest in the EMMA Delta fund from Helixor, a partner of the J&T Private Equity Group. The purchased shares represent an indirect 1.6% ownership interest in the Greek lottery company OPAP.
"The deal was a good investment opportunity that conforms fully to our strategy for OPAP," said the Sazka Group's CEO Robert Chvátal in describing the transaction. He added that both of the Sazka Group's shareholders, the KKCG and EMMA Groups, have regarded OPAP as a strategic investment since the beginning of their partnership.
"Helixor, acting in cooperation with the J&T Private Equity Group, has decided to sell its stake in the EMMA Delta fund, having achieved a very interesting return on investment. We consider OPAP's shares highly attractive from the investment viewpoint, and we will continue to monitor their development closely," commented the transaction Miloš Badida, CEO of the J&T Private Equity Group. The transaction changes the structure of investors in the EMMA Delta fund, which owns a 33% stake in OPAP, as follows: the Sazka Group currently holds 71.9% of the fund's shares, while the remaining 28.1% is controlled jointly by Greek partners and the U.S.-based IGT Group.
Sazka Group
The Sazka Group is one of the largest game and lottery operators in Europe. The aggregate annual value of bets placed with companies in which the Sazka Group holds a stake is in excess of EUR 15 billion, while the value of EBITDA totals EUR 850 million. Apart from the Greek lottery company OPAP, the Sazka Group currently holds ownership interests in Sazka (Czech Republic, 100%), LOTTOITALIA (Italy, 32.5%), and Casinos Austria and Österreichische Lotterien (Austria, 11.34% and 11.56%, respectively).
The Sazka Group's shareholders include the investment companies KKCG (75%) and EMMA Capital (25%), which both take equal part in the company's management. The international and business expertise of both groups guarantees that Sazka Group specialists possess the necessary experience with long-term management, productive consolidation, and sustainable development of business operations. Their know-how plays an important role in the management of gaming and lottery enterprises, a segment that is subject to strict regulation and strong emphasis on consumer protection.
Media Contacts
Dana Dvořáková
Corporate Communication Director, KKCG, a.s.
Vinohradská 230, Prague 10
T +420 225 010 399
M +420 602 372 834
E [email protected]
Pavel Zuna
Head of Investor & Public Relations
Emerging Markets Capital, a.s.
Na zátorce 24, Prague 6
T +420 226 291 600
M +420 602 475 698
E [email protected]
2017-05-23
SAZKA Group Website Launched
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SAZKA Group Website Launched
Prague, 23 May 2017 – SAZKA Group, one of the largest lottery and sports betting companies in Europe, has launched its new website. The website, presented in English, will be mainly used to publish information for industry specialists. There is general information about the holding, and the website functions as a hub from which access is provided to the SAZKA Group's member companies. The website www.sazkagroup.com features a modern youthful design that symbolizes the fact that SAZKA Group companies target young individuals, promote diversity, and respect people who have been loyal customers for decades. The SAZKA Group website has been created by the VCCP agency.
SAZKA Group
SAZKA Group is one of Europe’s largest lottery and gaming operators. The aggregate annual amount of bets placed with companies in which the SAZKA Group holds an ownership interest are in excess of EUR 15 billion and the aggregate EBITDA amounts to over EUR 850 million. SAZKA Group currently holds interests in the Greek lottery OPAP (33%), Italy’s LOTTOITALIA (32,5%) and the Sazka lottery (100%) in the Czech Republic, as well as an 11.34% stake in Casinos Austria AG and 11.56% in Österreichische Lotterien GmbH.
Shareholders of SAZKA Group are investment companies KKCG (75% shareholding) and EMMA Capital (25% shareholding), who share an equal managerial control of the SAZKA Group. The international and business know-how of the two groups is bundled in SAZKA Group: expertise in long-term strategic management, industry focus, successful consolidation and sustainable development of companies. Particularly in the entertainment and gaming sectors - with strong regulatory, competition or consumer protection frameworks - acquisition and management of domestic and international participations has been handled with utmost professionalism.
Media Contacts:
Dana Dvořáková
Corporate Communication Director, KKCG, a.s.
Vinohradská 230, Prague 10
M: +420 602 372 834
T: +420 225 010 399
E: [email protected]
2016-12-09
PPF Group and EMMA Capital announce the sale of Eldorado
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PPF Group and EMMA Capital announce the sale of Eldorado
PPF Group N.V. and EMMA Capital announce that they have sold 100% of the shares of the Eldorado retail chain to a group of Russian investors related to the Safmar financial & investment group. PPF Group has owned Eldorado, one of Russia’s largest electronics retail chains, since 2008; EMMA Capital has owned shares in Eldorado since 2014. Under PPF Group and EMMA Capital’s ownership, the company has been transformed into a multi-channel retailer, offering a wide range of household goods, and one of Russia’s leading online retailers.
The acquisition of the respective rights by Eldorado’s new owners was approved by the Russian Federation’s antitrust authority, FAS. Both parties have agreed that the price of the transaction will not be disclosed.
Notes for editors:
PPF Group
PPF Group invests into multiple market segments such as banking and financial services, telecommunications, biotechnology, real estate, retail, insurance and agriculture. PPF’s reach spans from Europe the USA and across Asia. PPF Group owns assets exceeding EUR 24.2 billion (as at 30 June 2016).
EMMA Capital
EMMA Capital is an investment group established in 2012 at the initiative of its majority shareholder, Jiří Šmejc. EMMA Capital specialises in strategic investments where it mainly focuses on retail business. EMMA Capital currently operates in the Czech Republic, Greece, Romania, Russia, Austria, Italy and Slovakia. In addition, EMMA Capital owns an 11.38% stake in Home Credit Group, one of the world’s largest consumer finance providers.
Eldorado
Eldorado is Russia’s second largest retailer of consumer electronics and household appliances. The company maintains a presence in more than 200 cities in various regions of the Russian Federation. Eldorado develops multichannel sales and operates the largest network of over 600 stores throughout the country. Eldorado is a five-time Consumer Rights and Quality of Service Award winner in the best retail chain category, a two-time winner of the People’s Brand (2012, 2014), and was named Company of the Year 2012 and 2013 by HR Brand.
2016-08-17
KKCG and EMMA CAPITAL merge their lottery assets
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Prague, 17 August 2016 – Today's signature of agreements establishing the SAZKA Group joint-venture marks the conclusion of negotiations between the KKCG and EMMA Capital financial groups. The establishment of the joint venture will merge all lottery and gaming assets of the two financial groups, including shares in the largest Greek lottery company OPAP, the Italian company LOTTOITALIA, the Austria-based Casinos Austria and Österreichische Lotterien, as well as a 100% ownership interest in the Czech-based SAZKA a.s. Owned by Karel Komárek and Jiří Šmejc, KKCG and EMMA Capital will hold a 75% and 25% share in the SAZKA Group, respectively. The two groups have also agreed that each of them will be equally responsible for the management and oversight of the SAZKA Group.
The transaction marks the end of negotiations between the two corporations, which have resulted in the establishment of the largest group specializing in numerical lotteries in Europe. The aggregate annual amount of bets placed with companies in which the SAZKA Group owns an ownership interest are in excess of 15 billion euros and the aggregate EBITDA amounts to over 850 million euros.
"Together with our partner, we are committed to building the largest lottery and gaming operator in Europe. Moreover, our joint strategy is to promote the growth of companies currently owned by the SAZKA Group and to continue expanding into other parts of the world, both in Europe and beyond. We are on the lookout for opportunities for further acquisitions," said Karel Komárek.
"For the EMMA Group, the transaction is a logical continuation of the path on which we embarked in 2013, when we took part in the establishment of the consortium that won the competition for the privatization of a 33% share in OPAP. Our involvement in the SAZKA Group is consistent with EMMA's focus on the retail sector, and it builds on the highly prosperous partnership we have had with KKCG," added Jiří Šmejc.
All shares in the concerned companies will be automatically transferred to the SAZKA Group as of 17 August 2016. The only exception is the management of EMMA Delta, the fund that oversees shares in OPAP, which will only pass on to the SAZKA Group after the transaction is approved by regulatory authorities in Greece and Cyprus.
SAZKA Group a.s. is a joint venture of KKCG and EMMA Capital intended to aggregate the two groups' lottery and gaming investments. KKCG and EMMA Capital are the largest investors in EMMA Delta, a fund holding a 33% stake in the Greek lottery OPAP. The SAZKA Group owns an 11.4% share in Casinos Austria, where a transaction is under way that will increase the group's stake in this Austria-based corporation to 51% in a consortium with the NOVOMATIC corporation. In addition, the SAZKA Group owns a 100% share in the Czech lottery company SAZKA a.s. and holds, through the Italian
2016-04-15
KKCG and EMMA CAPITAL won the license to operate Lotto
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Italian authorities issued today a provisional award about the new operator of the Lotto lottery.
Italian authorities issued today a provisional award under which the new operator of the Lotto lottery will be a consortium of Italian Gaming Holding a.s. (a subsidiary of KKCG and EMMA Capital), Lottomatica, Novomatic Italia S.p.A., and Arianna 2001 S.p.A. The consortium's bid under a tender for the operator of Lotto was submitted on 16 March 2016, and the evaluation committee of the Italian Customs and Monopoly Agency announced the award of the license to the consortium today.
"We are delighted about the prospect of being a part of the largest privately managed lottery in Europe with annual wagers in excess of seven billion euros. Together with our partners, we will bring to Lotto our expertise, experience with both day-to-day and strategic management of the lottery business, and strong financial resources. The goal of the consortium is to further strengthen Lotto's position on the Italian market," said Štěpán Dlouhý, the Sazka Group’s Investment Director who is responsible for lotteries and gaming.
The bid based on which the consortium has been awarded a nine-year license to operate Lotto amounted to EUR 770 million. An additional 130 million euros will be invested into an upgrade of Lotto's technological infrastructure.
The shares in the registered capital held by members of the consortium that won the license to operate Lotto are Italian Gaming Holding – 32.5%, Lottomatica – 61.5%, Arianna 2001 – 4%, and Novomatic Italia – 2%.
"Lotteries and sportsbetting are the key pillar of our business. The transaction is another step on the path to fulfilling the SAZKA Group's strategy to build Europe's largest lottery and sportsbetting operator," explained Dlouhý
2016-03-17
KKCG submitted bid for Italian Lotto concession
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Italian Gaming Holding has entered into a consortium to bid for the Italian Lotto tender.
Italian Gaming Holding a.s., a subsidiary of KKCG Group and EMMA Capital Group, has entered into a consortium to bid for the Italian Lotto tender. The other consortium members include Lottomatica S.p.A., a subsidiary of International Game Technology PLC (“IGT”) (NYSE: IGT), Novomatic Italia S.p.A., and Arianna 2001 S.p.A., a company owned by the Federation of Italian Tobacconists.
The consortium members bring their strategic and operational expertise and financial resources together to deliver an unparalleled solution to provide for the continued success of the Lotto game in Italy.
The consortium submitted its bid on 16 March 2016, in accordance with the submission deadline for the Lotto tender.
If the consortium is awarded the Lotto concession, a joint venture company will be established. Italian Gaming Holding will have a 32.5% equity ownership and Lottomatica, Arianna 2001, and Novomatic Italia will have a 61.5%, 4%, and 2% share, respectively. Under the terms of the consortium agreement, Lottomatica will serve as the principal operating partner to fulfill the requirements of the Lotto license.
“Lotteries and gaming are key pillars of our business. This step fully conforms to the strategy pursued by SAZKA Group a.s., where we aim to build a large diversified European group that specializes in gaming," explained SAZKA Group’s Investment Director Štěpán Dlouhý.
2016-03-11
Home Credit: Profitable 2nd half powered by improved performance from restructured Russian business and rebalancing towards high-growth Asian markets
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Amsterdam, 11 March 2016: Home Credit B.V. (‘HCBV’ or ‘the Group’), the Netherlands-based holding company for Home Credit’s leading multi-channel consumer finance operations in CEE and Asia, announces its consolidated financial results for the year ended 31 December 2015 in accordance with International Financial Reporting Standards (IFRS).
2015-10-19
Closing of the acquisition of CAME by KKCG and EMMA CAPITAL
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KKCG and Emma Capital have closed the acquisition of CAME Holding GmbH (CAME) via Austria Gaming Holding a.s.
AGH bought CAME from DONAU Versicherung AG member of Vienna Insurance Group. The signing already took place on 9 September 2015. With the closing AGH holds an indirect share of 11.34% in Casinos Austria AG (CASAG) Austria’s largest gaming and lottery company.
All conditions precedent determined in the contract with Donau Versicherung were fulfilled, notably the transaction was approved effective from 17 October 2015 by the Austrian Antimonopoly Authority (Bundeswettbewerbsbehörde, BWB).
Casinos Austria AG is a leading national and international gaming company with consolidated revenues of over EUR 3.6 billion in 2014, operating in numerous locations in Austria and other countries. CASAG owns 68% of Österreichische Lotterien Gesellschaft m.b.H., which is the monopoly operator of lottery games in Austria with 2014 revenues over EUR 1.3 billion.
“Lottery and gaming is one of strategic pillars of our business and this move is in line with KKCG’s strategy of building a large diversified European gaming group,“ said Štěpán Dlouhý, investment director of KKCG, adding that KKCG considers the acquisition of CAME a strategic long-term investment with the plan to sustainably develop the gaming and lottery business jointly with other shareholders and Austrian partners with a strong focus on responsible gaming and corporate social responsibility.
“We are pleased that, after our original reviews, the Austrian antimonopoly authority has now approved the sale. As is already known, the best offer among all bidders was an equally important criterion for our acceptance of the bid of the consortium“, said Prof. Elisabeth Stadler, CEO of Donau Versicherung AG Vienna Insurance Group. “Our understanding is that the consortium partners, who have experience in the gaming business, will also implement the concept we presented. This includes measures to secure the location, which in our opinion have to be considered very positive, and plans to expand business in Austria. These factors had an additional influence on our decision. We wish the consortium a lot of success for the next steps.”
KKCG is an international investment group managing approx. EUR 1.6bn of assets and employing more than 3,000 people. KKCG is focused on long-term strategic investments in lottery & entertainment, oil & gas, technology, tourism, real estate, machinery as well as other industries. KKCG operates in 10 different countries worldwide.
EMMA CAPITAL is an investment group focused on international markets. It intends to concentrate its activities primarily on the retail sphere; the usual strategy followed by the companies associated in the EMMA Group is that of an active involvement in the management of the companies in which EMMA has invested. The EMMA Group emerged in 2012 on the initiative of its sole shareholder, Jiří Šmejc.
2015-06-19
PPF and EMMA Group agreed on the sale of certain equity interests
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PPF Group and EMMA Group, founded and led by Jin Smejc, have signed an agreement on the sale of certain equity interests in Home Credit B.V., Air Bank a.s., and Eldorado Ltd.
2015-03-12
Home Credit: 2014 results impacted by economic environment in Russia while the business continues to rebalance towards high growth Asian markets
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Amsterdam, 12 March 2015: Home Credit B.V. (‘HCBV’ or ‘the Group’), the Netherlands-based holding company for Home Credit’s leading multi-channel consumer finance operations in CEE and Asia, announces its consolidated financial results for the year ended 31 December 2014 in accordance with International Financial Reporting Standards (IFRS).
2013-10-11
EMMA DELTA completes acquisition of Greece’s OPAP Betting Group
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Emma Delta completes acquisition of the Greek State's 33% holding in OPAP
Kamil Ziegler appointed Chairman & CEO
New members appointed to the Board of Directors
LONDON 11 October 2013:
Emma Delta Ltd. ("Emma Delta"), the investment fund, announces today that it has completed its acquisition of a controlling shareholding in OPAP, the Greek betting group, from the Greek state.
Emma Delta has acquired the 33% stake in the Hellenic Football Prognostics Organisation S.A. ("OPAP") from the Hellenic Republic Asset Development Fund (“HRADF") for a total consideration of €652 million.
Commenting on the completion of the transaction, Mr. Jiří Šmejc, an Emma Delta shareholder, said: “We are delighted that we can now begin what we set out to do: building a stronger and more innovative OPAP. We are committed to the long-term growth of the Group, which we will pursue by creating value throughout the enterprise and making OPAP more cost-efficient. The company will be managed by an experienced team of industry and financial experts from Greece and abroad."
Emma Delta also announces the appointment of Kamil Ziegler as Chairman and Chief Executive Officer of OPAP, and of Michal Houst as Executive Board Member, following a meeting of the Board of Directors of the Group in Athens.
Ten members of the Board of Directors have resigned and have been replaced by newly elected and appointed Members.
Emma Delta completes acquisition of the Greek State's 33% holding in OPAP
Kamil Ziegler appointed Chairman & CEO
New members appointed to the Board of Directors
Emma Delta completes acquisition of the Greek State's 33% holding in OPAP
Kamil Ziegler appointed Chairman & CEO
New members appointed to the Board of Directors
Emma Delta completes acquisition of the Greek State's 33% holding in OPAP
Kamil Ziegler appointed Chairman & CEO
New members appointed to the Board of Directors
New members appointed to the Board of Directors
Kamil Ziegler, the new Chairman and Chief Executive Officer of OPAP, is a Czech national who has a successful track record in the gaming industry, having served as the CEO of Sazka, the Czech Republic’s national lottery organisation owned by KKCG Investment Group. He has also served as Chairman and CEO of the state-owned bank Konsolidacní Banka and of Raiffeisenbank Praha. Mr Ziegler has also been an Executive Finance Director at PPF Group.
“We are extremely excited to be taking on the great responsibility of managing such a significant asset in Greece,” Mr Ziegler said. “During a time of transition for the domestic economy, we are committed to investing in the company and in Greece over the long term.”
Michal Houst, also a Czech national, is appointed Executive Board Member of OPAP and will oversee the financial department of the Group. He is currently Investment Director at Emma Capital and was instrumental in driving and negotiating the OPAP acquisition process. He has considerable experience in successful restructuring projects at Nomos Bank in Russia and has worked as a banking and financial analyst at PPF in the Czech Republic and Russia.
Note to Editors:
The investment fund Emma Delta is a private international collective investment scheme established under the laws of Cyprus. The controlling shareholders of Emma Delta are Mr. Jiří Šmejc and Mr. Georgios Melisanidis. Investors in Emma Delta are comprised of: MEF Holdings Limited (representing the investor Mr. Jiří Šmejc), Yeonama Holdings Co. Limited (representing the investor Mr. Georgios Melissanidis), Rubidium Holdings Limited (representing the Financial Group KKCG), Vitalpeak Limited (representing the Financial Group ICT), Helixor Ltd (representing the Financial Group J&T) and Helvason Limited (representing the investor Mr. Christos Copelouzos).
2013-05-01
EMMA DELTA welcomes successful OPAP bid; ready to invest in state asset
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Emma Delta today welcomed the confirmation that its landmark bid for the Greek state’s holding in the gambling group OPAP had been accepted by the national privatisation agency. The revised bid, submitted today, amounted to €650 million for the state’s 33% stake in OPAP.
Commenting on the process, Jiri Smejc, the controlling shareholder of Emma Delta, said:
“On behalf of all the investors involved, I am delighted that the HRADF has decided to accept our offer. It’s a vote of confidence in Greece and highlights our long-term commitment to the country. We are convinced that we will make this landmark privatisation a success for all stakeholders.”
The group initially bid €622 million on April 17. It was the only one of seven bids deemed acceptable by the privatisation agency (Hellenic Republic Asset Development Fund, or HRADF). HRADF subsequently asked EMMA Delta to resubmit its bid with a May 1 deadline. The premium in the new bid, of around €30 million, will be paid in equal annual installments over the next 10 years.
The Greek state will receive an additional €60 million dividend, as anticipated in the tender documentation. The Greek state will hence receive a total consideration of €710 million, or €100 million above the price set as a fair value by the agency’s advisors, National Bank of Greece and Deutsche Bank.
Mr. Smejc added: "Our purchase can only increase the attractiveness of future Greek privatisations and benefit the Greek state. The bid represents good faith on the part of EMMA Delta -- the only group of truly international investors in the process. We are committed to improving the performance of this underachieving asset. We will invest substantially in OPAP and run it on an open basis.”
EMMA Delta is committed to renew OPAP’s systems and platforms, to expand in new sectors and to tighten revenue reporting systems inside OPAP, a reform that would increase sustainable taxation revenues for the Greek state in the future.
In addition, EMMA Delta also announced that it would create a charitable organisation to be managed by OPAP and invest in socially responsible projects and causes, in accordance with the group’s role and values as a responsible corporate citizen. All of the investors in the group will contribute their own money to the cause. Details of the charity’s investments will be published in due course on the OPAP website.
About EMMA Delta:
EMMA Delta is a regulated variable equity fund, controlled by Mr. Jiri Smejc and Mr. George Melissanidis. The investors to the fund are: Emma Group of the Czech Republic; Czech- based KKCG; ICT Group of Russia; J&T Finance Group from Slovakia; the Greek businessman George Melissanidis; and the Greek businessman Christos Copelouzos.
About Emma Capital:
Emma Capital is controlled by Jiří Šmejc, 41. Among its investments are Home Credit and Finance Bank, one of the largest retail banks in the Russian Federation. The bank has expanded into China and South and South-East Asia. Mr Šmejc is a co-owner of the PPF Group of the Czech Republic, holding 5% of its shares.
2013-03-29
PPF and Jiří Šmejc have signed an agreement on division of their assets: Jiří Šmejc gains direct stakes in Home Credit Group and in Air Bank
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PPF Group informs about the completion of the process of assets division, which had been announced on May 18, 2012 following Jiří Šmejc’s departure from the position of PPF Group shareholder. The appropriate agreements have been signed recently. Jiří Šmejc gains a direct shareholding of 13.37% in Home Credit B.V., a holding company for Home Credit Group’s operations, as well as the same direct stake in Air Bank a.s. Dependent on business results of both companies his shareholding can be increased in the future up to 17.5%. The remaining 86.63% in both companies will be owned by PPF Group N.V. Jiří Šmejc continues to hold a position as a Chairman of the Board of Directors and CEO of Home Credit Group. An acquisition of PPF's assets in Greece is part of the agreements as well as an agreed financial consideration in favour of Jiří Šmejc. The settlement of the above mentioned agreements is subject to approval of appropriate regulation authorities. Following the settlement of the transaction the shareholding of PPF Group N.V. will be divided as follows: Petr Kellner 98.94%, Ladislav Bartoníček 0.53% and J.-P. Duvieusart 0.53%.
The agreements are based on market valuation of PPF Group N.V. A long-term strategy of PPF Group, which combines full ownership and managing control of assets with investments alongside key business partners, remains unchanged.
Jiří Šmejc, who pursuant to the signing of the above mentioned agreements will become PPF Group’s business partner, was born in 1971; a graduate of the Charles University, Prague, Faculty of Mathematics and Physics, with a degree in Mathematical Economics. He went into business in 1992 and in he became the Executive Officer and Director of PUPP Consulting s.r.o. In 1995 he served as Sales Director in Middle Europe Finance s.r.o., a securities trader focusing on acquisitions. He was an owner of 34% of TV NOVA Group until 2004 when he started working at PPF Group. In 2005 he became PPF Group’s shareholder by gradually gaining a 5% share. He was predominantly responsible for managing banking assets as well as PPF operations in Russia. Currently he is a Chairman of the Board of Directors and CEO of Home Credit Group.
Notes for Editors PPF Group
PPF Group invests into multiple market segments such as banking and financial
services, insurance, real estate, energy, metal mining, agriculture, retail and
biotechnology. PPF's reach spans from Central and Eastern Europe to Russia and
across Asia. PPF Group owns assets amounted to EUR 17.6 billion (as of 30 June
2012).