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October 1, 2019,

Heureka separation is complete, joint-stock company with new board of directors formed

Heureka separation is complete, joint-stock company with new board of directors formed

The completion of Heureka’s separation from the original MALL Group structure has been completed. The split brought about the establishment on 1 October of Heureka Group a.s., which covers all of the company’s activities in nine CEE markets. Heureka’s current management will continue to lead the group together with its newly formed board of directors.

The establishment of the new entity Heureka Group a.s. is the result of a sale process that began last year under the leadership of the London-based investment bank Macquarie Capital. Despite the interest of external buyers, the existing shareholders decided not to sell, opting instead to separate Heureka under a separate structure. In the new structure, their shares remain in the distribution of 40% PPF, 40% EC Investments a.s. (owned by entrepreneurs Daniel Křetínský and Patrik Tkáč) and 20% Rockaway. The shareholders set up a new board of directors, which, together with Heureka’s current management headed by Tomáš Braverman, wants to reinforce the position held by the regional platform player. “We value the trust of the new board of directors and appreciate the fact that we can continue in our mission of developing the shopping advisor throughout the CEE region,” says Tomáš Braverman, CEO of Heureka Group.

The foreign markets in which Heureka currently operates are growing by more than 20% year on year. Heureka is thus opening up new growth opportunities for its partner e-shops. Heureka Group’s key mission is to connect e-shops and brands with customers. In order to connect e-shops as efficiently as possible and share parameters, reviews and galleries, work has already begun on the development of a single common platform, thus giving rise to the most extensive catalogue of products not only in the Czech Republic, but also in the other countries where Heureka Group operates. The platform will facilitate the expansion of e-shops within CEE without the necessity of localising the given e-shop itself for individual countries.

Heureka has been working on building up its international position since 2016, when it carried out its first acquisition on the Hungarian market. The group’s dimensions are now considerable: nine Central and Eastern European countries, more than 20 million visitors per month and offers from over 55,000 online shops, and the status of the biggest European price-comparison platform and shopping advisor. In addition to Heureka in the Czech Republic and Slovakia, the Heureka Group also includes the Hungarian Árukereső.hu, Romanian Compari.ro, Bulgarian Pazaruvaj.com, Slovenian Ceneje.si, Croatian Jetfinije.hr, Serbian Idealno.rs and Bosnian Idealno.ba.