Polish Superstores Raise $11 Million

A consortium including ABN AMRO Ventures of the Netherlands, Kleinwort Benson of the UK and Belgian investors Merifin Capital and ORESA Ventures, together with management, in October provided $11 million (ecu 9.2 million) expansion funding for Retail Investment Concepts Inc. (RIC).

RIC is the Central and Eastern European licensee of Office Depot Inc, the world’s largest supplier of office products. The company, which currently operates seven superstores in Poland and one in Hungary, will use the new capital to expand its store network both in its existing markets and in other countries throughout the region.