Private equity firms Cinven, Permira and Mid Europa acquire Poland’s Allegro

UK’s private equity firm Cinven, peer Permira and Mid Europa announced that funds advised by the companies have agreed to acquire the Allegro Group, the largest online marketplace and non-food shopping destination in Poland, from Naspers Limited for $3.253 billion.

Permira said that the company’s funds have been backing internet leaders for many years and that in Allegro it has found a real gem which is the pre-eminent consumer and merchant internet brand in Poland. The company also said that Allegro is ideally positioned to capture the next wave of the growth in online and mobile commerce.

Allegro also said that the combination of Cinven, Permira, and Mid Europa will provide the company with unrivaled expertise in growing e-commerce and technology business in emerging Europe.

In December 2015, Cinven acquired United Kingdom-based fashion retailer Kurt Geiger from Sycamore Partners for $245 million.