European Imaging Group closed acquisition of majority stake in Cyfrowe.pl
Munich, May 10, 2022 – The European Imaging Group (“EIG”), a subsidiary of AURELIUS Equity Opportunities SE & Co. KGaA (ISIN: DE000A0JK2A8), closed the acquisition of a majority stake in Cyfrowe.pl (“Cyfrowe”). The company is the leading Polish omni-channel speciality retail operator of high-end photo and video equipment for professionals and enthusiasts. This transaction reinforces EIG’s position as the leading pan-European photo and video specialist multi-channel retailer and offers a base for further expansion into Central and Eastern European markets.
Cyfrowe is headquartered in Gdansk and maintains close partnerships with the major blue-chip brands in the industry. It runs five successful retail destination stores across Poland and a renowned e-commerce platform. The offering is based on both new as well as used equipment and is complemented by a comprehensive range of services, such as customer training and workshops. Cyfrowe has built high levels of brand awareness and is managed by a strong team led by founder and CEO Jaroslaw Banacki, who will remain a significant minority shareholder. Banacki will continue to run the company and will be responsible for Cyfrowe’s future development.
Richard Glatzel, Group CEO of the European Imaging Group, states: “We are ambitious to strengthen our position as the pan-European market leader in our field. Adding Cyfrowe represents our step into the Eastern European Market, further increasing EIG´s reach throughout the continent and leveraging synergies.”
Jaroslaw Banacki, Founder and CEO of Cyfrowe, comments: “Today, Cyfrowe is the leading omni-channel photo and video retailer in Poland. With the completion of our partnership with EIG, we are excited to see the opportunities this will bring and to continue on our successful growth path.” With the founder staying on bord, EIG will have access to the longstanding Cyfrowe industry know-how and expertise, that can be combined with EIG’s wealth of knowledge to capture future growth opportunities.