Polish Renters.pl buys majority stake in Bulgaria's Flat Manager

Polish Renters.pl buys majority stake in Bulgaria's Flat Manager

Renters.pl targets Bulgaria in first international expansion move.

By bne IntelliNews July 16, 2024

Polish vacation properties operator Renters.pl has acquired a majority stake in Bulgarian peer Flat Manager, the Bulgarian company said in a press release on July 16. It did not disclose the financial terms of the deal.

The acquisition of Flat Manager is Renters.pl's first international purchase. The company wants to consolidate the CEE market. It is financially supported by Polish private equity fund Enterprise Investors.

"This is only the beginning of Renters' international expansion. We are already negotiating the acquisition of more companies in the market in Central and Eastern Europe,” Enterprise Investors partner Jakub Kuberski noted.

The sale would help Flat Manager to expand its property portfolio in Bulgaria and attract Polish tourists and corporate clients, the company said in a press release.

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