Ziolopex and Kaliszanka merge

Polish company Ziolopex Sp z.o.o and biscuit manufacturers Kaliszanka Sp z.o.o. are set to merge. Together they will form a joint stock company active in the food industry. Ziolopex is the strategic investor in Jutrzenka, whose CEO is Jan Kolanski, also owner and CEO of Ziolopex. Kolanski outlined the details of the merger in an interview with PAP, the Polish press agency. The new company will consist of Jutrzenka, Kaliszanka and Ziolopex. The group expects sales this year to exceed PLN 500 m (€ 136 m). According to "Puls Biznesu"Jutrzenka achieved sales of over PLN 180 m ( € 49 m) in 2004, Goplana sales of over PLN 140 m (€ 38 m). Ziolopex sales totalled PLN 100 m (€ 27 m) and Kaliszanka PLN 130 m (€ 35 m). Kolanski says flotation on the Warsaw stock exchange is planned in the near future.