Polish media giant buys PortfoLion’s investment, Szallas Group

By: Trademagazin Date: 2022. 09. 12. 08:33

Wirtualna Polska Holding, listed on the Polish stock exchange, will buy Szallas Group, which also operates Szallas.hu and has become an international player in recent years, announced the company’s management and PortfoLion Capital Partners, representing the owner. The Warsaw-based e-commerce and media company group is expected to pay EUR 82 million to the ownership group consisting of PortfoLion and private individuals upon closing the transaction.

Not even covid hurt Szallas.hu

Listed on the stock exchange, Wirtualna Polska Holding S.A. is the owner of several major media and e-commerce portals in the Polish and regional markets. Until now, Wirtualna Polska’s tourism role has mainly focused on Poland, but thanks to the transaction just announced, it will expand with several new countries and products, and the market covered by its activities in the sector will more than triple.

After Szallas.hu was founded in 2007, it quickly became one of Hungary’s leading accommodation booking sites. In 2015, PortfoLion bought the company with funds provided by EXIM and OTP, and supported the already outstanding organic growth of Szallas.hu with an intensive international acquisition strategy in addition to the strong capital background. With the support of the fund manager, the company made acquisitions first in Poland, then in Romania and the Czech Republic, while Szallas.hu has grown to become one of the most popular sites in its category at home in recent years.

Szallas Group