Śnieżka SA is taking over Rafil

Within the transaction valuated at 2.5 million zł, Fabryka Farb i Lakierów Śnieżka SA took over 61% shares of Radomska Fabryka Farb i Lakierów SA. The Radom-based company thus joined Grupa Kapitałowa Śnieżka, which is now composed of 7 companies.

The decision of the bodies of Rafil to make an offer of assumption the shares of the new issue related to a difficult financial situation of the company. Śnieżka, as a strong Polish producer well aware of the market, was a natural candidate for Rafil to submit an offer of sale. As Radomska Fabryka Farb i Lakierów is one of the most easily recognisable brands of anti-corrosion products in Poland, the takeover means for Śnieżka the possibility of strengthening its portfolio of products for metal protection.

As a result of the transaction, after the registration, Śnieżka will have 60.95% of the share capital of Radomska Fabryka Farb i Lakierów. The assumed shares will give Śnieżka the right to more than 50% of the votes in the General Assembly. As Piotr Mikrut, the president of Śnieżka, stated, buying the shares still held by the employees will be the next stage of the investment.

In reference to the investment, the implementation of modern solution and processes was announced in the Radom-based company. This will allow better use of its production capacity. Transfer of know-how between the two entities will allow development of even more advanced product innovations.

Rafil is a producer of anticorrosion paints well-known in the Polish market; its products are used to protect metal roof cladding. The production plant of the company of 100 years of tradition now employs about 120 persons. In 2016, the sales revenues of the company were at the level of 20 million zł. Śnieżka is the leader of paint market in Poland and Central and Eastern Europe. In 2016, the company generated revenue from sales with the value of 575.5 million zł.