A company controlled by Michal Solowow, the second-richest man in Poland, has bought the Romanian company that operates the Proges store network, a local retailer of home decoration products, Capital reported.

Romania’s Competition Council announced at the end of November that it approved the takeover of Podnet Consulting, the company that owns the Proges stores, by Sklepy Komfort, a company from the Solowow group.

Podnet Consulting, which was controlled by local investors Jean Podila and Radu Pelle, has 21 Proges stores throughout the country. The company had a turnover of EUR 9.6 million and 116 employees in 2017, according to data from the Finance Ministry.

Sklepy Komfort is also a home décor retailer with 148 stores in Poland. Michal Solowow also owns a laminated flooring producer in Romania.

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editor@romania-insider.com