Greenman Group looks East and buys Newbridge Poland
The Greenman Group has expanded into Poland with the acquisition of Newbridge Poland, an asset manager and developer, in a move that signals the Dublin-based group’s expansion into grocery-anchored real estate investments across Europe.
The company will be rebranded Greenman Poland and will be led by Barbara Wojdełko, former managing partner at Newbridge, and her 15-strong team based in Warsaw who have a particular expertise in the acquisition, management, and development of retail real estate in CEE.
Greenman Poland has €150 million assets under management, comprising of retail parks and shopping centres totalling 87,000 sq m. The assets are anchored by leading European retailers including Carrefour, Rossmann, JYSK, Pepco and Spar.
“This acquisition confirms our commitment to greater European expansion,” said Johnnie Wilkinson, CEO, Greenman Group. “As well as securing the assets, we’ve also managed to partner with a team of extremely experienced convenience store real estate experts who add an important level of geographic diversity to our platform and investors in the funds.”
Greenman Poland will be appointed as asset manager for Greenman Investment’s fund, Greenman European Supermarkets (GES), which acquires grocery-anchored real estate across Europe. Three retail parks, managed by Greenman Poland and located in Namysłów, Grodzisk Mazowiecki and Włocławek, have already been acquired by the fund GES.
The team will align its social and sustainability initiatives with Greenman Group’s comprehensive ESG and net zero carbon plan, working together with the group’s specialist subsidiaries – including Greenman Energy, to install photovoltaic panels and electric vehicle charging points at suitable assets, and Potager Farm, to install vertical farming units.
“This deal is the culmination of a strong period of growth at Newbridge,” said Barbara Wojdelko, CEO, Greenman Poland. “With the combination of the Greenman Group’s sector experience and our deep local knowledge we will deliver our shared growth strategy and are looking forward to expanding our assets under management in Poland and the broader CEE region with further acquisitions for the Greenman European Supermarket fund, as well as for other European funds and mandates.”