Conad has acquired Rewes 43 stores in Italy

Conad has acquired Rewe's 43 stores in Italy

Italian retailer Conad has bought German retailer Rewe's 43 Billa stores in the country.

The deal will see Conad acquire seven hypermarkets and 36 supermarkets in ten Italian regions - Abruzzo, Emilia-Romagna, Lazio, Marche, Piedmont, Puglia, Sardinia, Tuscany, Umbria and Veneto. Conad said the acquisition will increase its market share from 10.3% to 10.6%. 

The retailer said it is part of development plan to open 260 stores and create 5,800 new jobs between now and 2013.

Francesco Pugliese, the director general of Conad, said: "The stores represent a further step in our economic development, investment and innovation.

"The acquisition of Billa is an important stage of our development project and will strengthen the leadership of Conad in supermarkets and give us a larger presence in the hypermarket sector."

Conad also announced that it expects to close 2011 with a jump in sales over last year.