UK: Value retailer B&M eyes investment in Germany's JA Woll Handels.
B&M plots European expansion
UK variety retailer B&M has confirmed it is looking to acquire a majority stake of German discount firm JA Woll Handels.
The acquisition attempt is the value retailer's first venture outside the UK.
Asked by just-food if B&M was on the verge of acquiring a majority stake in the business a spokesperson responded: "That is correct".
JA Woll Handels currently operates 49 stores under the Hafu and Jawoll fascias and claims to be a "market leader in the north west" of Germany where it is the second largest "out-of-town" discounter.
The spokesperson said the move was part of B&M's "planned acquisition of majority stakes" in European retail businesses.
"They've said for some time there's potential for European expansion - this is a venture into the continental European market. This company has grown rapidly under current ownership and wants to accelerate further," she added.
- Infographic: Snapshot of Japan's food sector
- On the money: Solid Lindt outpaces chocolate peers
- On the money: Hain expects continued organic gains
- Analysis: Market bets on higher Chiquita offer
- Spotlight: What could be impact of Russia's ban?
- Russian government eases ban on food imports
- Dr Oetker to buy McCain North America pizza arm
- Nestle makes "major pledge" on animal welfare
- Research: the new strategies for convenience food
- Profits up at chocolate group Lindt