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German Rewe sells out to French E.Leclerc
German supermarket network Rewe, which controls the Billa brand, decided to withdraw from its operations in Poland.
The company will sell its 25 stores to French E.Leclerc, which already has 20 supermarkets in Poland. Billa employs almost 1,600 people across the country and generates annual revenues amounting to euro 100 million.
"I am very happy that E.Leclerc has strengthened its position in Poland by making this purchase, and it will reach the relevant critical mass on the Polish market in order to compete effectively," said Alain Caparros, the head of the Rewe group.
The parties did not reveal the value of the transaction, and it still has to secure the approval of the Competition and Consumer Protection Office (UOKiK).
Source: www.wbj.pl
German supermarket network Rewe, which controls the Billa brand, decided to withdraw from its operations in Poland.
The company will sell its 25 stores to French E.Leclerc, which already has 20 supermarkets in Poland. Billa employs almost 1,600 people across the country and generates annual revenues amounting to euro 100 million.
"I am very happy that E.Leclerc has strengthened its position in Poland by making this purchase, and it will reach the relevant critical mass on the Polish market in order to compete effectively," said Alain Caparros, the head of the Rewe group.
The parties did not reveal the value of the transaction, and it still has to secure the approval of the Competition and Consumer Protection Office (UOKiK).
Source: www.wbj.pl
Publication date: 8/5/2009
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