GERMANY: Edeka acquires Ratio Trading Group
Germany's largest grocer Edeka is continuing its recently announced expansion plans, with the acquisition of local retailer Ratio Trading Group.
Edeka will buy 11 retail locations and eight cash-and-carry outlets in the Lower Saxony and Ruhr area. The purchase price was not disclosed.
"With this acquisition we further consolidate our sales target area," said Edeka CEO Markus Mosa. "The acquisition strengthens our core business in the markets operated by independent food retailers.
Ratio Group operates 12 shopping centres, two speciality stores and eight cash-and-carry stores and generates around EUR600m (US$823.8m) sales a year.
Edeka announced ambitious expansion plans for 2011 earlier this week, revealing its intention to open some 200 full-range supermarkets in 2011.
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