The companies set up Sluggeria for the business, in which PPF holds a 40 percent stake, EC Investments also holds a 40 percent stake and Rockaway Capital controls the remaining 20 percent.
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According to the last published annual report, Fast ČR had a net profit of 380 million crowns the year before last. Revenues reached 10.5 billion crowns. The companies further stated that last year the company’s sales exceeded 13 billion and EBITDA (before interest, taxes, depreciation and amortization) exceeded 900 million crowns.
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The seller was represented by the current Chairman of the Board of Fast CR Zdeněk Pech. The buyers stated that they have full confidence in the current management, after the completion of the purchase, the company will be managed by the board of directors of the five current long-term managers.
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In addition to operating Planeo Electro stores, the company also bought the Sencor electronics brand in the 1990s. It was established in 1969 in Japan.
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Fast was founded by businessman Tomáš Smrčka, who died in 2009. Zdeněk Pech represents two of Smrček’s underage sons, to whom the ownership of the company has been transferred.
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