SPAIN: Auchan's Sabeco acquires Eroski supermarkets
Sabeco, a subsidiary of French retail giant Auchan, is to buy five supermarkets in Spain from fellow grocer Eroski.
The supermarkets are located in the region of Castilla-La Mancha and builds on an agreement signed by the two companies to exchange assets last year.
The acquired centres are located in the provinces of Toledo and Ciudad Real.
Sabeco will take control of 100% of the workforce and the new centres will be changed to the Simply Market banner
Sabeco has 129 stores under the Simply Market, Simply City and HiperSimply banners in nine regions in Spain and employs around 6,000 people.
A spokesperson for the firm declined to disclose the financial details of the purchase.
Greenpeace has accused retail giants Wal-Mart, Tesco, Carrefour and Auchan of driving rainforest destruction and pushing tigers and orang-utans to extinction by buying products from Asia Pulp and Pape...
Magnit, Russia's largest grocery chain in term of store numbers, plans to attract additional bank loans in the amount of RUB54.5bn (US$1.5bn) for its expansion plans....
Spanish retailer Eroski has entered into a sale-and-leaseback deal with WP Carey & Co., the global investment management company....
- US food next wave on display at Winter Fancy Food
- How General Mills plans to grow - CAGNY
- Comment: Meal kits in US - don't believe the hype
- Wessanen eyes growth in "resurgent" organic market
- Does Kraft Heinz want to swallow Unilever whole?
- Unilever launches operational review
- Kerry operating earnings strengthen on slow sales
- Glanbia focuses on nutrition with Irish dairy spin
- Kerry's Scanlon to replace McCarthy as CEO
- Mondelez launches savoury snacks brand Vea