Private equity firm Advent International Corp. has purchased Polish supermarket chain operator EKO Holding Group.

The deal values EKO at 340 million zlotys ($106 million) and gives Advent a 98 percent stake in the company. Shareholders of EKO decided to sell a total of 47,632,553 shares to Advent on Oct. 29.

Advent facilitated the deal through its portfolio company Ecorse Investments, with the goal of repurchasing shares from the remaining shareholders and ultimately owning 100 percent of the Warsaw-based target.

The transaction ends an auction that involved New York and Boston-based Advent going up against Mid Europa Partners, a firm with offices in Warsaw, Istantbul, London and Budapest, Hungary.

EKO's assets include roughly 305 stores under its own name, as well as about 965 drugstores under different franchise names. It also owns PolskaGrupaDrogeryjna Ltd., a wholesaler of household chemicals and cosmetics.

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