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Mariusz Świtalski

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Mariusz Świtalski (born 19 May 1962) is a Polish entrepreneur. He is the founder of Elektromis, Eurocash, Biedronka, Żabka, and Małpka Express and has been named one of the richest people in Poland by Wprost weekly.[1][2]

Biography and career

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He grew up in various orphanages, the longest in a house run by nuns in Szamotuły. He graduated from a 2-year vocational school in plumbing.

In the 80s he traded at the Poznań trade fair, at the end of the 1980s he specialized in coffee making and then in computer hardware distribution.

In 1987, he founded Elektromis, an enterprise importing confectionery, radio and television equipment, beer and spirits. Within 2 years, it transformed into a huge holding. Some of his companies back then were registered and run by his friends from the orphanages. In 1992, Elektromis owned 50 warehouses throughout Poland and PLN 168 million in profit per year. An investigation was launched on a 1992 referral from the Ministry of Finance, which suspected Elektromis of tax fraud, illegal alcohol trade, theft, and fake sales transactions.[3] According to prosecutors, Elektromis’ illegal practices cost the Polish state at least USD 25 million.[4]

In 1993, he transformed Elektromis into Eurocash, which became the largest grocery wholesale chain in Poland. In 1995 he sold it to Jerónimo Martins. In 1995, he founded the discount chain Biedronka, which he sold (243 branches) in 1998 also to Jerónimo Martins. Another investigation was launched in 1994 and lasted until the early 2000s, resulting in 13 indictments. Świtalski was never a witness in the case as he had not been formally employed as an Elektromis executive.[5]

He was the owner of the weekly Miliarder. He helped Jerzy Urban in setting up the weekly "Nie". He founded the Posnania bank, which, however, in 1995 closed down.

In 1998, he founded Żabka, whose shares in 2000 were bought by the AIG fund.[6]

In 2011, he launched the "Sowiniec FIZ" fund investing in real estate. It owns the land between Puszczykowo near Poznań and Sowiniec. At the end of the 1990s, he also bought plots in Poznań, in the Naramowice housing estate.

In December 2010, the Poznań-based company Świtalski & Synowie changed its name to Czerwona Torebka SA. In 2012 Czerwona Torebka went public on the Warsaw Stock Exchange.[7] In 2019 WSE decided to suspend Czerwona Torebka shares from trading.[8]

In 2013, he created the discount chain store Czerwony Torebka. In April 2015, the management of the company Dyskont Czerwona Torebka SA decided to liquidate the company. In July of the same year, all stores were closed, and the company Czerwona Torebka ceased to exist.

In February 2020, Świtalski's assets were frozen by a court order issued in a legal dispute between Świtalski and Forteam Investments fund. The dispute concerns the sale of the Małpka chain, which Forteam bought from a subsidiary of Świtalski in 2015[9] An agreement supporting the sale guaranteed the buyer a minimum price in case of subsequent sale of Małpka to a third party. The claims against Świtalski exceed PLN 300 million (EUR 80m).[10] In May 2020 the injunction was extended to Mariusz Switalski's children.[11][12] In July 2020, Forteam was granted an injunction against Druga-Sowiniec Capital sp. z o.o. S.K.A., a company controlled by Mariusz Świtalski, and Krzysztof Belcarz. As a result, Forteam secured 45.94% of Czerwona Torebka shares.[13] In total,  Forteam has secured 48.44% of the Czerwona Torebka shares. In October 2020, the court issued the fourth injunction in favour of Forteam.[14] The court’s decision seized all Świtalski FIZ certificates and shares of the Druga – Sowiniec Capital sp. z o. o. sp. k. company owning, among others, a palace in Sowiniec valued at EUR 50 million in 2015.[15]

As of 2015, he was the 40th richest person in Poland as named by Wprost.[16]

References

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  1. ^ Frączyk, Jacek (2017-05-25). "Czerwona Torebka wraca do gry. Wydała 300 mln zł na maszyny górnicze". WP money (in Polish). Retrieved 2018-01-25.
  2. ^ "Piotr Najsztub zeznaje w sprawie zabójstwa dziennikarza: Mariusz Świtalski groził mi z łagodnym uśmiechem". poznan.wyborcza.pl (in Polish). Retrieved 2018-01-25.
  3. ^ Cieśla, Łukasz (2015-12-16). "Co łączy zniknięcie Ziętary z Elektromisem". Głos Wielkopolski (in Polish). Retrieved 2020-05-14.
  4. ^ "Gazeta.pl: Archiwum". gazetapl (in Polish). Retrieved 2020-05-14.
  5. ^ "Elektromis pod pręgierzem". Wprost (in Polish). 2003-03-21. Retrieved 2020-05-14.
  6. ^ "EBRD to invest in Poland-based grocery retailer Żabka". Polskie Radio dla Zagranicy. Retrieved 2018-01-25.
  7. ^ "Czerwona Torebka: udany debiut na GPW". www.rp.pl (in Polish). Retrieved 2020-04-06.
  8. ^ "GPW Zawieszenie obrotu akcjami Czerwona Torebka".[dead link‍]
  9. ^ "Fundusz chce milionów od Mariusza Świtalskiego". pb.pl (in Polish). Retrieved 2020-04-06.
  10. ^ Polska, Grupa Wirtualna (2020-03-03). "Forteam ma sądowe zabezpieczenie roszczenia przeciwko Mariuszowi Świtalskiemu". www.money.pl (in Polish). Retrieved 2020-04-06.
  11. ^ Partners, Delta Capital. "District Court in Poznań, Poland grants injunction against Mariusz Świtalski's children". www.prnewswire.com. Retrieved 2020-05-20.
  12. ^ "Forteam Investments ma kolejne zabezpieczenie roszczenia przeciwko M. Świtalskiemu dot. Małpki". Bankier.pl (in Polish). Retrieved 2020-05-20.
  13. ^ "District Court in Poznań Grants Third Injunction against Mariusz Świtalski to Secure Forteam Investments' Claims". Litigation Finance Journal. 2020-08-05. Retrieved 2020-11-27.
  14. ^ "Forteam Investments Ltd. seizes the Świtalski family palace in Sowiniec". news.yahoo.com. Retrieved 2020-11-27.
  15. ^ "The Incredible Sowiniec Polo Club & Manor can be yours for $52,000,000". Luxatic. 2015-12-09. Retrieved 2020-11-27.
  16. ^ "100 Najbogatszych Polaków 2015". Rankingi Wprost (in Polish). Retrieved 2018-01-25.
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