LITHUANIA: Coopernic finalises Baltic acquisition
Colruyt, together with other members of the Coopernic alliance, has announced the acquisition of Lithuanian retailer Iki.
The members have acquired a majority stake of 80% in the capital of Iki with the remaining 20% still in the hands of the family Ortiz, who founded the group in 1992.
As a result, Colruyt, the Belgium-based retailer, said it has acquired a direct stake of 10.5% in the business.
Coopernic also includes French retail giant Leclerc, Italian grocer Conad, Germany's Rewe and Coopsuisse.
Belgian discounter Colruyt has seen first-quarter sales rise 14.7% thanks to its policy of keeping prices low at a time when consumers are looking to tighten their belts....
Belgium-based retailer Colruyt has thanked its "lowest-price policy" after posting rising full-year sales and earnings....
Canadian cookie-maker Leclerc has purchased a manufacturing facility in Bristol, Tennessee....
International co-operation is becoming a vital way for food retailers to compete with their larger rivals, the CEO of German grocer Rewe said today (19 June)....
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