Mutares to sell Polish drugstore chain Natura to Grupa Specjał

Munich-based investment company Mutares has reached an agreement to sell the Polish drugstore chain Natura to Grupa Specjał. The transaction is expected to be signed and completed in the fourth quarter of 2026, pending approval from the Polish competition authority, UOKiK.

Mutares acquired Natura at the end of 2024 and subsequently implemented a restructuring program. This included a corporate carve-out, logistics adjustments, the closure of unprofitable locations, and management reinforcements. According to Mutares CIO Johannes Laumann, the retailer is now positioned as an independent entity with a clear path toward profitability.

The buyer, Grupa Specjał, is a Polish retail and wholesale group that operates various brands, including SPAR, and reported revenues of approximately 4.6 billion PLN in 2025. Natura, which operates over 190 stores and an e-commerce business, is expected to leverage the purchasing and logistics infrastructure of its new parent company.