Kruk, the national leader in receivables management and participant in the Polish Champion program, plans to enter other markets in Europe, in addition to the Romanian, Czech and Slovakian markets. Spain, Germany or Turkey are all being considered.
The Kruk group started its foreign expansion in 2007. The first foreign country chosen by the Wrocław company was Romania. Within a few years KRUK România S.R.L has become a key player in the area of debt collection and debt purchase on the local market. The Romanian company is also working with major insurance banks and telecommunications companies.
A few years later, in 2011, Kruk began operating on the Czech and Slovak market by creating KRUK Česká a Slovenská Republika s.r.o.
“In every country the goal is to become the leading player in both the debt collection and debt purchase” emphasize the company’s representatives.
Now it looks like the Polish Champion plans to conquer new European countries.
“We look primarily at markets such as Spain, Germany and Turkey. Our preliminary analysis shows that these could be the most interesting development directions for us. We have not yet made the final decision on which of these markets we will bet” explains Piotr Krupa, the CEO of Kruk.
The company plans to launch a new foreign group later this year.
“First, we will take into account the creation of the organization from the ground up, as in the case of Romania, Czech Republic and Slovakia. We do not exclude, however, entering a new market through acquisitions. Before entering we prepare detailed analysis that helps us make the final decision” said Piotr Krupa.
Wrocław Kruk Company was founded in 1998. Since May 2011, it has been listed on the Stock Exchange in Warsaw. For several years it has been the biggest player on the Polish debt management market – it has 8 regional offices in the country and nearly 50 local representations. The group employs more than 1.8 thousand people.