1923 Investments plc Announces Merger of its Apple Premium Reseller Businesses in Poland

This year marks the company’s 10th anniversary of its acquisition of iSpot in Poland.

1923 Investments, the investment arm of Hili Ventures, is pleased to announce the completion of a merger between its two Polish Apple Partner businesses. On July 1, Cortland was merged into iSpot, marking another significant milestone in iSpot’s journey as the leading Apple partner in Poland, serving millions of customers across the country.

As a result of the merger, all 11 Cortland retail stores will be rebranded as iSpot, bringing the total number of iSpot retail stores and service centres to 48. Meanwhile, iSpot and Cortland’s B2B business will operate under the Cortland brand, with e-commerce platform Cortland.pl continuing to serve as a dedicated hub for B2B customers. This year, the merged iSpot business is expected to generate €330 million euros in revenue, compared to €266 million in 2023 – an increase of over 24%.

1923 Investments chairman David Bonett said: “It is a great privilege to celebrate our 10-year anniversary with the closing of this significant merger. Bringing iSpot and Cortland together not only elevates our brand in the market but is also a big leap towards enhanced service delivery, accessibility and innovation for our customers in Poland. When iSpot was acquired in 2014, it had 21 stores and a staff complement of 250. In ten years, we have invested significantly in the operation in line with our vision, more than doubling our business, with 48 stores and over 650 people representing the world’s most desirable brand.”

CEO of iSpot Dariusz Zająkała said: “The merger of iSpot and Cortland over the course of the last year was successful thanks to the efforts of both teams working together towards a singular vision and harmonized structure. We are excited to celebrate our best-in-class retail experience with more individual, corporate and educational institution customers across Poland.”

iSpot remains the only retailer in Poland to hold Apple Premium Partner status, a testament to the company’s commitment to meeting Apple’s standards, which sets the benchmark for excellence in the industry.

This merger is a pivotal step in 1923 Investments’ strategy to achieve growth through acquisitions, reinforcing its position as a dominant player in the technology retail industry.

iSpot stores in Poland

About 1923 Investments plc

1923 Investments plc operates as a diversified holding company, focused on the pursuit of opportunities to acquire and nurture companies to generate attractive returns and maximise value for stakeholders. 1923 Investments plc encompasses Harvest Technology, iSpot Poland, and iCentre Hungary. Located in Malta, Poland, and Hungary, these activities are engaged in innovation for businesses and retail of some of the world’s most desirable technology products.

1923 Investments is the technology arm of Hili Ventures Ltd, the holding company of a diversified group with a deep-rooted entrepreneurial heritage dating back to 1923. Through its various subsidiaries, Hili Ventures is engaged in food service & retail, real estate & hospitality, shipping & logistics, oil & gas, engineering, and technology in 10 countries across Europe and North Africa with a team of 12,000+ people. From its headquarters in Malta, Hili Ventures steers its subsidiaries towards continued growth in selected sectors and markets. Hili Ventures is a proud partner of McDonald’s, Apple, Konecranes, Microsoft, NCR, Six Senses and many other global brands.